Category - Daily Digest

Daily Digest – December 8. Man Arrested For Allegedly Pulling Gun on Agent; Subprime Auto Loan Originations At Lowest Point Ever

TEXAS MAN ARRESTED FOR ALLEGEDLY PULLING GUN ON REPOSSESSION AGENT An arrest has been made from an incident in Texas in August, where a man allegedly pulled a gun on a repossession agent after the agent had repossessed the man’s vehicle. The man is facing up to 20 years in prison.   CONSUMER CREDIT JUMPS MORE THAN EXPECTED IN OCTOBER:...

Daily Digest – December 7. GAO Ruling Could Mean Guidance From Regulators Subject To CRA; Credit Union Sues President Over Mulvaney’s CFPB Appointment

GAO RULING COULD MEAN GUIDANCE FROM REGULATORS SUBJECT TO CRA An interesting article from a quartet of lawyers at the law firm of Pepper Hamilton has raised awareness of a potential issue regarding any guidance issued by a federal regulator, including those that keep an eye on financial institutions. The General Accountability Office issued an...

Daily Digest – December 6. Cordray Announces Run For Governor; Mulvaney, English Have Yet to Meet

CORDRAY ANNOUNCES RUN TO BE NEXT GOVERNOR OF OHIO Richard Cordray, the former director of the Consumer Financial Protection Bureau, formally entered the race to be the next governor of Ohio yesterday. Cordray, a former attorney general for the Buckeye State, had been rumored to be mulling a run for governor for several months.   MICK...

Daily Digest – December 4. Man Pleads Guilty To Injuring Repossession Agent With Knife; Mulvaney Says CFPB Will Not ‘Interfere’ With Capitalism

MAN PLEADS GUILTY TO INJURING REPOSSESSION AGENT WITH KNIFE A Virginia man has pleaded guilty to injuring a repossession agent with a knife during an attempted repossession. The man has already spent three months in jail but is out on bond pending sentencing.   MULVANEY SAYS CFPB WILL NOT ‘INTERFERE’ WITH CAPITALISM Mick...

Daily Digest – December 1. Mail Carrier Facing Charges After Undelivered Mail Found in Repossessed Vehicle; White House Moving Fast to Find Permanent Director at CFPB

MAIL CARRIER FACING CHARGES AFTER VEHICLE REPOSSESSED WITH UNDELIVERED MAIL INSIDE A Virginia mail carrier is facing charges after his car was repossessed. The problem? The vehicle had hundreds of pieces of undelivered mail. WHITE HOUSE MOVING FAST TO NAME PERMANENT DIRECTOR AT CFPB The President has a short list of names to be the next...

Daily Digest – November 30. Delinquency Rates Remain Low, Expected To Stay That Way; Man Impersonates Repo Agent

DELINQUENCY RATES REMAIN LOW, EXPECTED TO STAY THAT WAY: BEIGE BOOK Loan delinquency rates remained low and created little cause for concern according to anecdotal reports from the 12 different Federal Reserve Banks across the country. The banks submitted their information to the Federal Reserve Board, which published the subjective reports as...

Daily Digest – November 29. Judge Denies TRO Request Against Mulvaney Running CFPB; CFPB Staffers Overwhelmingly Favor Dems

JUDGE DENIES TRO AGAINST MULVANEY RUNNING CFPB AS SENATOR RAISES QUESTIONS Leandra English’s attempts to prove she is the rightful interim director of the Consumer Financial Protection Bureau took a hit yesterday when a federal judge declined to grant a temporary restraining order that would have blocked Mick Mulvaney from running the...

Daily Digest – November 28. CFPB Leadership Battle Creates Plenty of News; TCF Exiting Auto Finance Business

CFPB LEADERSHIP BATTLE CREATES PLENTY OF NEWS ON DAY ONE Yesterday was Day One of dueling directors at the Consumer Financial Protection Bureau. Mick Mulvaney, President Trump’s appointee, brought donuts to work on his first day and then imposed a 30-day freeze on hiring and regulatory activities, including civil penalties. He also had...

Daily Digest – November 27. Battle Over CFPB Post Heads to Court; Report Claims CFPB About To Sue Santander

BATTLE OVER CFPB POST HEADS TO COURT AS CORDRAY SUCCESSOR SUES PRESIDENT TRUMP On a holiday weekend that was probably filled with awkward conversations between family members across the country, it seems somehow appropriate that a similar dynamic is unfolding in Washington, D.C. Richard Cordray officially resigned as director of the Consumer...

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