Lawyer picked to defend CFPB before high court backs agency structure
The Supreme Court appointed Paul Clement to represent the agency after the bureau’s current director questioned its constitutionality.
Litigation
CFPB critics to Supreme Court: The agency must go
The case before the court deals mainly with a statutory clause limiting the president’s ability to fire a CFPB director. But briefs filed with the court say striking that provision does not fully solve the bureau’s constitutional problems.
Early-bird special: CFPB to reward firms that quickly fix violations
The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.
Early-bird special: CFPB to reward firms that quickly fix violations
The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.
Supreme Court to hear CFPB constitutionality case in March
The high court scheduled oral arguments on March 3 in the lawsuit dealing with a president's ability to fire the head of the Consumer Financial Protection Bureau.
CFPB sued for allegedly failing to supervise student loan servicers
Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.
OCC offers road map for banks to bypass ‘Madden’ ruling
The 2015 decision posed new legal challenges for institutions trying to sell loans to third parties, but the federal regulatory agency proposed steps Monday for banks and debt parties to evade state interest rate caps.
What CFPB’s day in court will mean for FHFA
The Supreme Court is ready to weigh in on the CFPB’s leadership structure, but both agencies are facing similar constitutional challenges, suggesting a broader impact of any decision.
Supreme Court will hear CFPB constitutionality case
The high court will decide how much latitude a president has to fire the director of an independent agency.
Another day, another Capitol Hill grilling for CFPB’s Kraninger
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.
Dems unload on CFPB’s Kraninger: ‘You are absolutely worthless’
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.
Supreme Court yet to decide if it will take CFPB case
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.
Ruling cuts short debt collectors’ victory lap over CFPB proposal
The industry had welcomed the Consumer Financial Protection Bureau plan allowing debt collectors to use electronic communication, but some worry about the effect of a court decision concerning email correspondence.
Kraninger’s stance on CFPB constitutionality puts rules in limbo
By declaring that she has too much statutory power, the agency’s director has potentially opened a floodgate of litigation.
GSE investors seek Supreme Court ruling on FHFA constitutionality
The shareholders' claims against Fannie Mae and Freddie Mac's regulator mirror arguments in cases challenging the Consumer Financial Protection Bureau.
How Supreme Court could decide CFPB constitutionality question
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.
CFPB’s Kraninger agrees: Her job security is unconstitutional
The agency's director told congressional leaders and staff that she backs a Supreme Court challenge to the bureau's leadership structure.
Would a Democratic president fire CFPB’s Kraninger?
The Supreme Court may be closer to examining a key restraint on a president's ability to change CFPB leadership.
Lender risk from CFPB underwriting rule tested in Ohio case
The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying.
Supreme Court ruling in foreclosure case a (limited) win for lenders
In a unanimous ruling, the court placed new limits on the ability of consumers to sue law firms that handle foreclosures on behalf of mortgage servicers.
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