Chain saws have no place in financial services regulation

Chain saws have no place in financial services regulation

More than 15 years after the Great Recession, many have forgotten why Congress created the CFPB. But those the CFPB regulates — who still care more about their profits than about protecting consumers — want to use a chain saw on the agency so they can make more money.

CFPB no longer supports the final rule on medical debt reporting

The Consumer Financial Protection Bureau (CFPB) has formally withdrawn its support for a Biden administration rule that would keep medical debt from appearing on consumer credit reports. The rule has been staunchly opposed by the credit-reporting and debt collector industries and also has generated concern among provider advocates who think it could remove an incentive for patients to pay their bills. Some stakeholders have argued that patients …