Sen. Ruben Gallego, D-AZ, led lawmakers accusing the bureau of “lip service” over its refocus toward “threats” to service members and veterans, in its “abrupt” reversal on a $95 million penalty against the credit union.| Banking Dive
A CFPB rule proposed Tuesday would restrict the bureau’s ability to supervise nonbanks. The agency said it aims to adopt a binding, standardized definition of “risks to consumers” that would make enforcement consistent.| Payments Dive