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CFPB Releases "Progress Report"
The CFPB released a “progress report” on Monday tracking its achievements over the past year and goals for the immediate future, all part of the lead-up to the transfer of its authority from other agencies on July 21.…
President Obama Announces Plan to Nominate Former Ohio AG to Lead Consumer Financial Protection Bureau
After much speculation concerning who would be nominated to head the Consumer Financial Protection Bureau (CFPB), President Obama announced plans to nominate former Ohio Attorney General Richard Cordray for the post at…
CFPB Requests Comment on Scope of Bureau Oversight
Though still without a director, the Consumer Financial Protection Bureau ("CFPB") has published its first notice and request for comment in the Federal Register (76 Fed. Reg. 38,059 (June 29, 2011)). The CFPB seeks…
Appeals Court Rejects Effort to Stop Debit Fee Rule
Earlier this week, the Eighth Circuit Court of Appeals affirmed a federal trial court decision denying TCF National Bank’s motion to preliminarily enjoin enforcement of the Durbin amendment to the Dodd-Frank financial…
Senate Declines to Delay Cap on Debit Fees
On June 8, the Senate fell six votes short of the 60 votes needed to postpone for one year the implementation of a ceiling on the debit fees which banks charge to merchants. The Durbin amendment to the Dodd-Frank…