In a stunning move, Cara Petersen resigns as the CFPB's acting enforcement director, criticizing the Trump administration's efforts to undermine the agency and its mission to protect consumers.
Wells Fargo's recent victory in lifting the asset cap imposed by the Fed signals a turnaround for the bank, allowing for expansion in key areas. CEO Charlie Scharf celebrates this pivotal milestone as shares rise 2.7% in after-hours trading.
In a surprising ruling, a Texas federal court has nullified a CFPB rule aimed at capping credit card late fees at $8. This decision could lead to banks charging consumers up to $10 billion more annually in late fees, raising concerns among consumer advocates.
In a surprising turn of events, banks that once fought against the CFPB are now rallying to protect it from drastic cuts by the Trump administration. As the agency's future hangs in the balance, industry leaders warn of rising competition from unregulated fintech giants.
In a controversial decision, the Trump-endorsed Treasury Department announces the suspension of anti-money laundering law enforcement, affecting millions of businesses. This move has sparked debate over financial regulations and transparency.
In a dramatic shift, the CFPB's leadership plans to terminate nearly all employees, with insiders revealing a phased layoff strategy. What does this mean for consumer protection?
