In advance of his confirmation hearing tomorrow, the Senate Banking Committee has released the prepared statement of Rohit Chopra, President Biden’s nominee for CFPB Director. 

The brief statement highlights several areas on which Mr. Chopra is likely to focus his attention as CFPB Director.  He raises concern about the financial difficulties faced by consumers as

Earlier this week, the CFPB announced that it has filed its first enforcement action under the leadership of Acting Director Uejio.  The lawsuit was filed in a Virginia federal district court jointly with the Attorneys General of Virginia, Massachusetts, and New York.  The complaint names as defendants Libre by Nexus, Inc. (Libre), Libre’s parent company,

The CFPB has filed its fourth status report with the California federal district court as required by the Stipulated Settlement Agreement in the lawsuit filed against the Bureau in May 2019 alleging wrongful delay in adopting regulations to implement Section 1071 of the Dodd-Frank Act.

Section 1071 amended the ECOA to require financial institutions to

In Part II of our two-part podcast, we discuss how we expect Rohit Chopra, if confirmed by the Senate, to approach his new role as CFPB Director.  We look at the possible implications of positions taken by Mr. Chopra as FTC Commissioner for how he will use the CFPB’s statutory authorities, his likely approach to

In Part I of our two-part podcast, we are joined by special guest former CFPB Director Richard Cordray.  After discussing the process of transitioning to new leadership, Mr. Cordray shares his thoughts on how Mr. Uejio and, if confirmed by the Senate, Mr. Chopra, are likely to approach their new leadership roles at the CFPB

As we reported, Acting CFPB Director Dave Uejio recently shared a blog post in which he directed the Bureau’s Consumer Response Unit to prepare and publish a report highlighting companies with a poor track record of responding to consumer complaints. He stated that “senior leadership of these companies can expect to hear from me.”

Last week, HUD’s Acting Assistant Director for Fair Housing and Equal Opportunity issued a memorandum directing HUD’s Office of Fair Housing and Equal Opportunity to take a series of actions “to administer and fully enforce the Fair Housing Act to prohibit discrimination because of sexual orientation and gender identity.”

The memorandum is intended to implement

Again demonstrating that he does not intend to merely be a caretaker for the CFPB’s next Director, Acting Director Uejio has publicly shared his statement to the Bureau’s Division of Consumer Education and External Affairs (CEEA) in which he directs Consumer Response to prepare a report highlighting the companies with a poor track record in