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Senate Banking Committee Urges Oversight of Data Security

As auto lenders increasingly turn to technology to improve customer experience, the Senate Banking Committee is pushing for “close scrutiny” over the way financial institutions collect, use, and protect personally identifiable consumer information, the committee announced this week. Committee Chairman Sen. Mike Crapo (R-Idaho) and Ranking Member Sen. Sherrod Brown (D-Ohio) asked for feedback from […]

Acting Director Mulvaney Issues Review of CFPB Enforcement Operations

The Consumer Financial Protection Bureau announced it will review and seek public comment regarding nearly all facets of the regulatory agency starting with the civil investigative demands (CIDs) process. CFPB Acting Director Mick Mulvaney is issuing requests for information on enforcement, supervision, rulemaking, market monitoring, and education activities at the agency, according to a press […]

With Mulvaney at the Helm, CFPB Debt Collection Rule Faces Elimination

The Consumer Financial Protection Bureau was expected to announce its rule governing debt collection by third parties “any time now,” but with the reaffirmation of Mick Mulvaney as the agency’s interim director, the rule could be voided or drastically changed, said Christopher Willis, partner at Ballard Spahr LLP. “I would expect that any industry-wide pronouncements […]
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