Consumer Financial Protection Bureau

Wednesday, U.S. Representative Terri Sewell, D-Selma, voted in favor of the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (Comprehensive CREDIT Act), HR3621. Sponsors claim that the legislation addresses many credit reporting flaws by enhancing consumers’ rights, requiring more transparency over the consumer reporting and credit scoring processes, and increasing the accountability … Continued

Alabama Attorney General Steve Marshall announced Tuesday that the Alabama Attorney General’s Office has become an inaugural member of the American Consumer Financial Innovation Network. The ACFIN is a new initiative of the federal Consumer Financial Protection Bureau. It is designed to “facilitate innovation that benefits consumers through greater competition, consumer access, or financial inclusion … Continued

Earlier this month, the Trump Administration took a giant step toward helping low-income Americans by rolling back Obama-era regulations that damaged low-income Americans. At President Donald Trump’s direction, the Consumer Financial Protection Bureau signaled a possible rollback of a previous rule that severely restricted access to capital for low and lower-middle income Americans. Under the … Continued

Sen. Doug Jones, D-Alabama, criticized the Consumer Financial Protection Bureau’s proposal to remove a key regulation on the payday lending industry introduced in the final year of President Barack Obama’s term. The CFPB said Wednesday that it is rolling back plans to put into place a rule intended to protect the most vulnerable payday loan … Continued

Thursday, U.S. Senator Doug Jones questioned the Acting Director of the controversial Consumer Financial Protection Bureau Mick Mulvaney. Mulvaney is also the Director of the White House Office of Management and Budget. Jones questioned Director Mulvaney about what he considered to be Mulvaney’s efforts to roll back consumer protections against payday lenders as well as … Continued

By Bill Britt Alabama Political Reporter Just as the Trump administration’s acting head of the Consumer Financial Protection Bureau is working to repeal federal restrictions imposed on payday loans under the Obama administration, certain Alabama Republicans aligned with left-leaning special interests are once again pushing to regulate the industry further. In a year when Republican … Continued

By Brandon Moseley  Alabama Political Reporter Monday, November 27, 2017, Alabama Attorney General Steve Marshall joined four other attorney generals in a letter today to President Donald Trump and U.S. Attorney General Jeff Sessions declaring their confidence in the President’s authority to appoint an acting director for the U.S. Consumer Financial Protection Bureau (CFPB). Obama … Continued

By Brandon Moseley Alabama Political Reporter Tuesday, October 11, 2016, a US Court of Appeals for the District of Columbia Circuit ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. US Senator Richard Shelby (R-Alabama), who has been a longtime critic of the CFPB and it’s unique structure, commented on the … Continued

By Brandon Moseley Alabama Political Reporter On Thursday, July 22, the Consumer Financial Protection Bureau celebrated its fifth birthday. Congressman Gary Palmer (R-Hoover) and other Republican representatives were not pleased with the anniversary. US Representative Palmer said, “This should be the last birthday the Consumer Financial Protection Bureau (CFPB) celebrates without accountability. For the past … Continued