NEW YORK (AP) — A federal judge in Texas removed a Biden-era finalized ruled by the Consumer Financial Protection Bureau that would have removed medical debt from credit reports. U.S. District Court Judge Sean Jordan of Texas’s Eastern District, who was appointed by Trump, found on Friday that the rule exceeded the CFPB ‘s authority….
NEW YORK (AP) — Navy Federal Credit Union will no longer have to refund $80 million to servicemen and women for illegally charging them overdraft fees on their accounts, after the President Donald Trump-led Consumer Financial Protection Bureau moved to dismiss the case. It’s the latest example of how the Trump-led CFPB is undoing much…
The House of Representatives passed a Congressional Review Act resolution Wednesday (April 9), overturning the Consumer Financial Protection Bureau’s (CFPB) rule, “Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications.” The resolution (H.J.Res.64) says that Congress disapproves the rule and “such rule shall have no force or effect.” It passed in a…
[Ray Bogan] Members of Congress are introducing a resolution to nullify a new regulation for digital consumer payment applications like Venmo and PayPal. The rule was created by the Consumer Financial Protection Bureau (CFPB) during the final weeks of the Biden Administration and requires the payment companies to follow similar rules as banks. Sen. Pete…
The Trump administration has ordered an effective shutdown of the Consumer Financial Protection Bureau (CFPB), directing the agency to stop investigations, suspend rule implementations, and cease supervision activities. Russell Vought, the newly appointed director of the Office of Management and Budget, issued the order in a Saturday night email. Newsweek reached out to the White…
Executive orders signed by President Donald Trump on Jan. 20 emphasized his hopes to scale back available electric vehicle subsidies and increase tariffs on products from other countries, highlighting the uncertain trajectory of a post-election auto market. One of the orders, titled “Unleashing American Energy,” aims, in part, to eliminate “unfair subsidies and other ill-conceived…
Startups like TomoCredit and Albert, last valued at hundreds of millions of dollars, are the target of hundreds of consumer complaints. By Jeff Kauflin, Forbes Staff Inthe summer of 2023, 55-year-old Michigan resident Felisa Ware was hoping to improve her credit so she could buy a bigger house where her ailing mother could live with…