Enforcement actions

In her second day of congressional testimony, Kathy Kraninger took heat from Senate Democrats for weighing in on constitutional questions about her agency and for her enforcement track record.

CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.

A list of upcoming cases published by the high court did not include a challenge to the bureau's constitutionality, but the justices could still decide to review it at a later date.

By declaring that she has too much statutory power, the agency’s director has potentially opened a floodgate of litigation.

If the court agrees to hear the case, its conservative majority could make it easier for a president to fire a CFPB director, though other outcomes are possible.

There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era.

The bureau issued three policies removing the threat of legal liability for approved companies that test new products.

A federal judge in Florida dismissed the Consumer Financial Protection Bureau's lawsuit against Ocwen Financial Services, stating the agency improperly asserted an excessive number of claims without specifying the particular count to which they applied.

Live Well Financial CEO Michael Hild has been charged with misrepresenting the value of a bond portfolio in parallel actions by the U.S. Attorney's Office and the Securities and Exchange Commission.

Asset Recovery Associates told borrowers that it could sue them, garnish their wages and place liens against their homes, according to a consent order by the consumer bureau.