Key insight: Bank enforcement actions fell by 55% during the first year of the Trump administration, according to data compiled by financial advisory firm Klaros. Supporting data: Klaros’ analysis shows that agencies issued 20 enforcement actions in the first quarter of 2025, but reduced that number to two by the fourth quarter. Terminated enforcement actions, […]
Enforcement is down under Trump. Is that a problem? Read More »
Al Drago/Bloomberg What’s at Stake: The bureau acknowledges that the elderly, minorities and people with low incomes may be harmed by the changes. Expert Quote: The proposed rule “will effectively invite a return to redlining and exclusion,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition. Key Insight: The CFPB claims the
CFPB to gut indirect discrimination in civil rights rule Read More »
Russell Vought, director of the Office of Management and Budget and acting director of the Consumer Financial Protection Bureau.Andrew Harrer/Bloomberg Key Insight: The five-year consent order that was settled in late 2023 was ended nearly three years early by the Trump administration. Supporting Data: TransUnion already paid a $5 million-dollar fine and $3 million in
CFPB makes early exit from consent order against TransUnion Read More »
The U.S. Justice Department is pushing ahead with its investigation of New York Attorney General Letitia James over mortgage fraud allegations after President Donald Trump demanded the case move forward, according to people familiar with the matter. The case is still being pursued through the U.S. attorney’s office for the Eastern District of Virginia in
Letitia James mortgage fraud probe is moving ahead at DOJ Read More »
Bloomberg News In 2018, the Federal Reserve Board’s total growth restriction on Wells Fargo established a new tool for dealing with large banks with broken compliance cultures. Many in and around the banking space viewed the $1.95 trillion asset cap — imposed in response to Wells Fargo’s cross-selling and fake accounts scandals — as a
Wells shed its asset cap — but it isn’t clear why Read More »
The former headquarters of the Consumer Financial Protection Bureau with signage removed.Catherine Leffert The Consumer Financial Protection Bureau has dismissed or withdrawn more than half of its pending enforcement cases as the Trump administration clears the docket of work it inherited from the Biden era. Since February, acting CFPB Director Russell Vought has dismissed 17
Trump’s CFPB drops more than half of all pending litigation Read More »