Many experts think the Consumer Financial Protection Bureau's funding through the Federal Reserve could be the fatal flaw in the Dodd-Frank Act that created the agency, but differentiating the CFPB's structure from others may be tricky.

In a series of tense exchanges, Republicans accused Consumer Financial Protection Bureau Director Rohit Chopra of making rules through press releases.

The Consumer Financial Protection Bureau is challenging a recent appeals court decision that its funding through the Federal Reserve Board violates the separation of powers doctrine. That ruling "threatens to inflict immense legal and practical harms" on financial regulation, the CFPB says.

The CFPB's recent guidance on so-called "unfair" bank fees has created legal turmoil for banks and financial firms after the White House claimed the bureau's actions were settled law.

Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

An appeals court ruling last week found that the Consumer Financial Protection Bureau's funding structure violates the Constitution, but another court filing shows how the agency might fight back.

Credit bureaus should know better than to include "impossible" data, such as someone defaulting on a loan before they were born, says Consumer Financial Protection Bureau Director Rohit Chopra.

The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

The Consumer Financial Protection Bureau’s unified agenda was quietly released this week, and it shows that rules on consumer access to financial records and small-business data collection are top priorities. 

Sen. Pat Toomey, R-Pa., is accusing the Consumer Financial Protection Bureau of pressuring Equifax, Experian and Transunion into removing most medical debt from credit reports, a move he says would compromise lenders' ability to gauge risk. Democrats, experts who testified at a hearing Tuesday and the CFPB pushed back.

Community lenders may choose to stop serving small businesses rather than absorb the expense of collecting information on race and ethnicity under a proposal by the Consumer Financial Protection Bureau.

The company reached an agreement with 39 states to pay $1.85 billion to resolve claims that it had used predatory lending practices.

In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”

The agency’s enforcement action against Better Future Forward says the nonprofit’s income-share agreements — an alternative education finance product — must follow the Truth in Lending Act just like other forms of student loans.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.

Income share agreements, which allow college graduates to repay tuition financing as a percentage of their future income, have come under fire lately from consumer advocates for questionable marketing and other potential legal violations. Some hope a partnership between a Virginia bank and an ISA provider will give the product more legitimacy, while others worry it just masks risks for borrowers.

The number of grievances about evictions and federal student loans declined between January 2020 and May 2021. Nonetheless, the Consumer Financial Protection Bureau warned financial firms that poor customer service can undermine government efforts to provide aid.

Six online lenders and the National Community Reinvestment Coalition have asked the Consumer Financial Protection Bureau for clarity on whether disparate-impact rules apply to lending decisions made by machines.