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...

Daily Digest – November 22. Rumored Succession Plan at CFPB May Not Be Legal; Auto Loan Originations Continue Downward Trend

RUMORED SUCCESSION PLANS AT CFPB MAY NOT BE LEGAL: LAW PROFESSOR There is a wrinkle in the proposed plan to install Mick Mulvaney as interim director of the Consumer Financial Protection Bureau when Richard Cordray resigns; it might not be legal. The Consumer Financial Protection Act, not the Federal Vacancies Reform Act controls succession at...

Daily Digest – November 20. Man Convicted of Murdering Repossession Agent; Ex-Santander USA CEO Gets $700M Exit Package

MAN CONVICTED FOR MURDERING REPOSSESSION AGENT A Texas man convicted of murdering a repossession agent in 2015 will serve the rest of his life in prison. Khalifah Ibn Muhammad was found guilty of shooting and killing Brandon Lee Russell. Muhammad received the maximum penalty under the law.   FORMER SANTANDER CEO TO RECEIVE $713 MILLION...

Daily Digest – November 17. Alleged Repo Man Charged With Impersonating Police Officer; OMB Director Considered To Replace Cordray

ALLEGED REPO MAN CHARGED WITH IMPERSONATING POLICE OFFICER A New Mexico man driving a tow truck and using red and blue flashing lights on top of it is being charged with impersonating a police officer after local law enforcement saw him chasing after a car with his lights flashing. The man said the car he was following had backed into...

CFPB Director Cordray Announces Resignation

Richard Cordray, the director of the Consumer Financial Protection Bureau, has announced his resignation. Cordray made the announcement in an email to CFPB employees this morning. He said he plans to step down at the end of the month. “As I have said many times, but feel just as much today as I ever have, it has been a joy of my life to have...

Daily Digest – November 15. Delinquency Rate on Auto Loans Keeps Rising; Wells Finds More Cars That Were Illegally Repossessed

DELINQUENCY RATE ON AUTO LOANS KEEPS RISING The number of individuals who are falling further behind on their auto loan payments is rising, according to data released yesterday by the Federal Reserve Bank of New York. The delinquency rate among auto lenders, including finance companies, is more than double the rate at banks and credit unions...

Daily Digest – November 14. Vehicle Repossessed Three Times in One Year; Title Lender Offering Buyouts

VEHICLE REPOSSESSED THREE TIMES IN SAME YEAR A Florida woman has had her car repossessed three times this year, even though she has the paperwork to prove she has not missed a payment. The lender has even state it does not have a contract with the repossession company that recovered the vehicle. Definitely a cautionary tale about making sure...

Skip to toolbar