CFPB headquarters in Washington, D.C. Credit/Shutterstock Regulatory supervision of credit unions and banks has stopped at the CFPB. The Washington, D.C. offices have been locked. CFPB employees have been told “not to perform any work tasks this week,” according to ...

The order also blocks acting CFPB Director Russ Vought from taking steps to defund the agency, echoing a separate ruling by a federal judge in Baltimore on Thursday evening. The Trump administration agreed to the temporary restrictions while the judge ...

New research from the Center for Responsible Lending (CRL) finds that in just one year — 2022 — cash-strapped borrowers took out over 20 million predatory loans totaling nearly $8.6 billion. The triple-digit annual percentage rates (APRs) and high costs ...

On February 4, the California DFPI announced a consent order issued against a credit union (respondent) following a significant cybersecurity breach. This breach, a ransomware attack, allegedly led to the shutdown of various banking systems from June 29, 2024, to ...

Hundreds of employees at the federal watchdog set up potect to consumers from predatory practices by banks and other financial firms were told not to come to work Monday after the Trump administration ordered the agency to halt its operations.© ...

In a groundbreaking legal development, Visa and MasterCard, two of the world's largest payment processors, have announced a substantial refund initiative. This comes in response to a class action lawsuit that accused the companies of imposing unlawful fees on ATM ...

Congressional Review Act (CRA) resolutions introduced Thursday (Feb. 13) in the U.S. House and Senate would overturn the Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees. The resolutions were introduced by House Financial Service Committee Chairman French Hill, ...

On February 8, the CFPB requested a 90 day stay in a lawsuit filed by a major tech company challenging the agency’s risk-based supervision order. The lawsuit, filed in the U.S. District Court for the District of Columbia, contests an order issued in ...

McKernan has served at FDIC, FHFA and as counsel for Senate Banking, Housing and Urban Affairs committee President Trump nominated Jonathan McKernan, who previously served as a board member of the FDIC and senior counsel of policy at FHFA, to ...