Consumer Financial Protection Bureau

President Donald Trump's bid to dismantle the Consumer Financial Protection Bureau has shifted at least $18 billion in costs onto consumers through higher bank fees and canceled restitution, two advocacy groups said Tuesday. What Happened: The Student Borrower Protection Center and the Consumer...

The U.S. Senate voted on Wednesday to revoke the Consumer Financial Protection Bureau's authority to oversee digital payment platforms. This move could reportedly directly benefit Elon Musk's social media company, X. What Happened: The rule, finalized last year, was designed to regulate fraud and...

Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) operations were unexpectedly suspended. This followed DOGE lead Elon Musk’s apparent call for the agency’s dissolution in an X post on Saturday, where he wrote “CFPB RIP.” The decision is expected to...

Treasury Secretary Scott Bessent on Monday ordered a halt to the majority of work at the Consumer Financial Protection Bureau after being selected as the acting director of the agency by President Donald Trump.  The Details: According to a report from the Wall Street Journal, Bessent directed the...

Capital One Financial Corp. (NYSE:COF) is set to report its fourth-quarter financial results after Tuesday's closing bell. Here's a look at what investors will be watching when the financial services company reports.  What To Know: Wall Street will be interested in the performance of Capital One...

Overdraft issuers including American Credit Unions, Consumer Bankers Association, American Bankers Association, and the Mississippi Bankers Association, have jointly filed a lawsuit challenging the Consumer Financial Protection Bureau‘s new decision. What Happened: The U.S. watchdog agency...

The Consumer Financial Protection Bureau has ordered federal supervision of Alphabet Inc.’s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google Payment Corp on Friday. The order follows customer complaints about Google Pay and its discontinued peer-to-peer service. The CFPB raised concerns about Google's...

An analyst upgraded Bread Financial Holdings Inc (NYSE:BFH) and Synchrony Financial (NYSE:SYF) following improving credit conditions and the delay of a Consumer Financial Protection Bureau (CFPB) late fee rule. The Bread and Synchrony Analyst: Bank of America analyst Mihir Bhatia released a Friday...

Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced that Atlantic Union Bank, which holds assets of $20.5 billion, would reimburse a substantial sum of money to its customers. What Happened: The move comes after the bank was implicated in illegally...

The U.S. Supreme Court is scheduled to hear a case on Tuesday concerning the funding structure of the Consumer Financial Protection Bureau (CFPB), the agency created following the 2008 financial crisis to protect consumers from predatory lending and other deceptive practices. Central to the case,...

Commonwealth, a financial security nonprofit, recently announced a two-year initiative to address challenges and opportunities emerging technologies present to people of lower- and moderate-income. As part of the development, Benzinga chatted with Commonwealth co-founder and executive director...

The U.S. Supreme Court heard arguments Tuesday in a case concerning the power of the president to fire the head of a federal agency without cause. Presidential Oversight Of CFPB In Question The judges of the High Court  were divided in their remarks, mostly by political...

Mick Mulvaney is moving from running a banking regulatory agency he hates and once hoped to see killed to serving as chief of staff for a president he once called a “terrible human being.” Mulvaney, a Republican former congressman from South Carolina, was seen by some on Wall Street as...

Wells Fargo & Co (NYSE: WFC) has agreed to pay a $1-billion fine to the government related to abusive lending and auto insurance practices. What Happened Wells Fargo said Friday that it has agreed to a $1-billion settlement with the Consumer Financial Protection Bureau and the Office of the...