Page 32 - Cfpb News Today

Consumer Financial Protection Bureau Director Rohit Chopra says the bureau is continuing with its enforcement agenda and that financial firms face risks from the Supreme Court case.

Credit card issuers say they need more time to respond to the substantial data request made by the Consumer Financial Protection Bureau in its proposal to slash late fees.

So what happened is, the payday lenders put out a new rule saying youve got to do a little better on disclosure. payday lenders have said i dont like the way cfpb is financed. they dont go to congress to get financed. they do this through fees. heres the thing. they do it through fees, exactly the same way the federal reserve bank does, exactly the same way that the office of the controller of the currency does, the same way the fdic does, the same way the overseer of the credit unions does. so ...

The Supreme Court cert to review whether or not the CFPB is unconstitutionally funded. CFPB is the primary regulator for banks and finance companies that extend credit to consumers. The organization was created as part of Dodd Frank Act following financial meltdown in 2008.

Deceptive mortgage ads have led to a $1 million fine and a permanent ban on the company

The CFPB is an illegal Frankensteins monster but so was Obamacare.

A Trump-appointed panel of judges ruled in October that the CFPB's funding structure is unconstitutional. The Supreme Court is taking up the case.

An appeals court ruled in October that the Consumer Financial Protection Bureau’s funding structure was unconstitutional.

The California-based lender will also have to pay a $1 million penalty

The closely watched case — which goes to the heart of how the Consumer Financial Protection Bureau operates — could have a huge impact on consumers, the agency and the many industries it oversees and those it seeks to regulate.