League InfoSight Highlight: Consumer Financial Protection Bureau (CFPB) Update

By Glory LeDu, CEO, League InfoSight & CU Risk Intelligence

In the past, we have provided links to top news articles from the week, linking those stories directly from regulatory agencies. Although a ton is happening in the industry, as I’m sure you are all aware, not a lot of those news stories are coming out of those regulatory agencies directly and probably will not be for a while. To continue our efforts to keep you informed, we will try to summarize the most recent happenings in our own words

Regarding the CFPB, the newly confirmed director of the Office of Management and Budget, Russell Vought, was named as the acting head of the CFPB (there was no press release about this coming out of the CFPB). As the acting head, Vought indicated the CFPB will not be taking its next draw of funding from the Federal Reserve. Also, in the news there was proposed circulation of a few different emails to CFPB staff to not come into the office, not perform any work tasks, and to halt all supervision and examination activity. 

We will continue to monitor the situation and provide as much information as possible to keep you informed regarding any updates on the status of the CFPB.

As always, if you have any questions, concerns, or suggestions, we are always here to help. You can email us directly at [email protected].