Cendant Corporation was an American provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, it broke up and spun off or sold its constituent businesses. Although it was based in New York City, the majority of its headquarters employees were in Parsippany-Troy Hills, New Jersey.
Ally Financial Inc. is a bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease agreements.
Benjamin Zachary Konop is a Senior Litigation Counsel in the Office of Enforcement at the Consumer Financial Protection Bureau in Washington, D.C. He also was a law professor and attorney in private practice.
Regions Financial Corporation is an American bank holding company headquartered in the Regions Center in Birmingham, Alabama. The company provides retail and commercial banking, trust, stock brokerage, and mortgage services. Its banking subsidiary, Regions Bank, operates about 2,000 automated teller machines and 1,300 branches in 15 states in the Southern and Midwestern United States.
Richard Adams Cordray is an American lawyer and politician who served from 2021 to 2024 as COO of Federal Student Aid in the United States Department of Education. From 2012 to 2017, he served as the first director of the Consumer Financial Protection Bureau (CFPB). Before that, Cordray variously served as Ohio's attorney general, solicitor general, and treasurer. He was the Democratic nominee for governor of Ohio in 2018. In April 2024, the Biden administration announced Cordray's departure after a chaotic rollout of changes to the FAFSA student aid application form.
Flagstar Bank is an American commercial bank headquartered in Troy, Michigan. A wholly owned subsidiary of New York Community Bank, Flagstar is one of the largest residential mortgage servicers in the United States, and was among the largest banks in the United States prior to its acquisition in 2022.
The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Recession, and it made changes affecting all federal financial regulatory agencies and almost every part of the nation's financial services industry.
Onity Group, formerly Ocwen, is a provider of residential and commercial mortgage loan servicing, special servicing, and asset management services, which has been described as "debt collectors, collecting monthly principal and interest from homeowners". Ocwen was founded in 1988 and is headquartered in West Palm Beach, Florida, with additional offices in Mount Laurel, NJ, Rancho Cordova, California, and St. Croix, U.S. Virgin Islands. It also has support operations in the Philippines and India. On June 10th, 2024, Ocwen rebranded as Onity Group. Onity's Slogan is "We Get It Done."
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector. CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the United States. Since its founding, the CFPB has used technology tools to monitor how financial entities used social media and algorithms to target consumers.
Midland Credit Management, Inc. is an American debt buyer and debt collection company headquartered in San Diego, California, and has offices throughout the United States as well as in India and Costa Rica. It is a wholly owned subsidiary of Encore Capital Group. It is one of the largest debt collectors in the United States.
Rajeev V. Date is an American businessman, attorney, and venture capital investor who served as Deputy Director and Special Advisor for the United States Consumer Financial Protection Bureau. He had previously served in a variety of leadership positions at the Bureau, including several months as the startup agency's leader, as the Special Advisor to the United States Secretary of the Treasury. He is credited with guiding the Consumer Financial Protection Bureau's early strategic, operational, and policy initiatives.
We Can't Wait is a policy initiative launched by the U.S. President Barack Obama's administration in October 2011 to institute policies by executive orders, administrative rulemaking, and recess appointments. The initiative was developed in response to the United States Congress' unwillingness to pass economic legislation proposed by Obama, and conflicts in Congress during the 2011 debt ceiling crisis.
The Consumer Financial Protection Safety and Soundness Improvement Act of 2013 is a bill that would restructure the Consumer Financial Protection Bureau (CFPB) by transforming it into a five-person commission and removing it from the Federal Reserve System. The CFPB would be renamed the "Financial Product Safety Commission." This bill is also intended to make overturning the decisions about regulations that the new commission makes easier to do.
Leandra English is an American political advisor serving as an advisor to the Superintendent of the New York State Department of Financial Services. She formerly was the Deputy Director of the Consumer Financial Protection Bureau (CFPB) from 2017 until her resignation in 2018. She was the plaintiff in the lawsuit English v. Trump, in which she unsuccessfully sought to have herself acknowledged as Acting Director of the CFPB.
David M. Silberman is an American government administrator who served as the associate director for Research, Markets, and Regulation at the Consumer Financial Protection Bureau. Silberman also previously served as the agency's Acting Deputy Director, until the appointment of Leandra English to the office.
Leandra English v. Donald Trump, et al., No. 1:17-cv-02534, was a lawsuit before the United States District Court for the District of Columbia. The plaintiff, Leandra English, alleged that the defendants, Donald Trump and Mick Mulvaney, violated 12 U.S.C. § 5491(b)(5)(B), a component of the Dodd–Frank Act of 2010, when President Trump appointed Mulvaney to be Acting Director of the Consumer Financial Protection Bureau (CFPB).
Seila Law LLC v. Consumer Financial Protection Bureau, 591 U.S. 197 (2020) was a U.S. Supreme Court case which determined that the structure of the Consumer Financial Protection Bureau (CFPB), with a single director who could only be removed from office "for cause", violated the separation of powers. Handed down on June 29, 2020, the Court's 5–4 decision created a new test to determine when Congress may limit the power of the president of the United States to remove an officer of the United States from office.
A civil investigative demand (CID) is a discovery tool used by a number of executive agencies in the United States to obtain information relevant to an investigation. By contrast with other discovery mechanisms, CIDs are typically issued before a complaint has been filed by the government in order to commence a lawsuit against the recipient of the CID. CIDs are considered a type of administrative subpoena.
Collins v. Yellen, 594 U.S. ___ (2021), was a United States Supreme Court case dealing with the structure of the Federal Housing Finance Agency (FHFA). The case follows on the Court's prior ruling in Seila Law LLC v. Consumer Financial Protection Bureau, which found that the establishing structure of the Consumer Financial Protection Bureau (CFPB), with a single director who could only be removed from office "for cause", violated the separation of powers; the FHFA shares a similar structure as the CFPB. The case extends the legal challenge to the federal takeover of Fannie Mae and Freddie Mac in 2008.
Consumer Financial Protection Bureau v. Community Financial Services Ass'n of America, Ltd., 601 U.S. 416 (2024), was a United States Supreme Court case where the Court ruled that the funding mechanism of the Consumer Financial Protection Bureau (CFPB), which is allocated from the Federal Treasury budget rather that through Congressional appropriations, is constitutional under the Appropriations Clause.
US$ 639 million (2014) [1] 