Debt collectors would have to tell consumers upfront that they cannot sue to recover "time-barred" debt under a proposal issued Friday by the Consumer Financial Protection Bureau.

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

The new group should look at protecting consumer data and how nonprime financial consumers are treated through new regulations.

Years after criticizing the Dodd-Frank Act, the Democratic presidential candidate and former New York City Mayor Michael Bloomberg is now taking a page from the Elizabeth Warren playbook.

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that did so.

The two agencies said they will exchange student loan complaint data after their information-sharing efforts had been in limbo for over two years.

Now that the Consumer Financial Protection Bureau says it will scrap an unpopular standard for so-called qualified mortgages, the big question is what will take its place.

The agency has named Thomas G. Ward as the bureau’s assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation has garnered no Republican support.

In the past, the agency cited the legal term in enforcement actions without stating what it meant, but Director Kathy Kraninger has sought to give the industry clearer guidance.

Democratic lawmakers, state attorneys general and others filed briefs with the Supreme Court rebutting claims that the agency’s leadership structure is unconstitutional.

The agency is sending a strong message that it won’t rush to end an exemption for Fannie Mae and Freddie Mac while also signaling longer-term changes that will affect all lenders.

Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

The Supreme Court appointed Paul Clement to represent the agency after the bureau’s current director questioned its constitutionality.

In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.

California Gov. Gavin Newsom plans to ask the legislature to revamp the current Department of Business Oversight and rename it the Department of Financial Protection and Innovation, modeled after the federal CFPB.