Topic · 8 reports

CFPB

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Flood questions Vought on CFPB appropriations funding and larger participant rules

Jul 21, 2026

The segment is from a July 2026 House Financial Services Committee hearing featuring Acting CFPB Director Russell Vought. Rep. Mike Flood questions Vought on agency reforms including appropriations funding, strengthened cost-benefit analysis, an independent inspector general, clearer definitions of abusive practices, and handling of civil penalty fund balances. Flood references his prior CRA resolution overturning a 2024 CFPB larger participant rule on digital payments, signed by President Trump in May 2025. Vought affirms support for most proposed changes, noting congressional guidance would help.

Source: Forbes Breaking News

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Haridopolos criticizes Democratic remarks on Vought at CFPB hearing

Jul 21, 2026

The video shows a House Financial Services Committee hearing segment with Russell Vought testifying as Acting CFPB Director. A Democratic member criticizes Vought's testimony as inadequate and requests a minority day hearing with additional witnesses. Chairman reminds members of decorum rules. Mike Haridopolos then speaks, expressing disappointment in comments directed at Vought, noting other regulators' roles, and referencing fraud issues.

Source: Forbes Breaking News

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Rep. Young Kim Questions Acting CFPB Director Vought on CDFI Funds, Small-Dollar Lending and Fraud Prevention

Jul 21, 2026

The Forbes clip shows Rep. Young Kim (R-CA) questioning Acting CFPB Director Russell Vought during a House hearing. Kim discusses CDFI Fund impacts in her district, Capital Magnet Fund distributions, her Small Dollar Loan Certainty Act, and CFPB efforts on financial literacy and fraud prevention. Vought responds that CDFI funds have been apportioned, a small-dollar rule is on the agenda, and the agency runs webinars with emphasis on self-reporting and remediation. The segment ends with Kim offering to partner on education and an invitation for written answers on scams.

Source: Forbes Breaking News

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Meuser Defends CFPB Deregulation, Cites Revocation of 67 Guidance Documents

Jul 20, 2026

The segment shows Rep. Dan Meuser (R-PA) during a House hearing criticizing the prior CFPB under Director Rohit Chopra for alleged overreach and praising recent deregulation. He enters an ABA article into the record, references revocation of dozens of guidance documents, and contrasts CFPB and SBA staffing and budgets under Biden versus the current administration. The exchange includes questions to Acting Director Russell Vought on the benefits of reduced guidance and enforcement.

Source: Forbes Breaking News

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Vought Details Trump-Era CFPB Reforms and Cost Estimates in Testimony

Jul 18, 2026

Forbes Breaking News aired acting CFPB Director Russell Vought's congressional testimony presenting the Bureau's semi-annual report and updates on his tenure. Vought described prior leadership as having weaponized the agency beyond its mandate, imposing substantial costs on consumers and stifling innovation.

Source: Forbes Breaking News

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Warren criticizes Vought-led CFPB for dropping enforcement actions worth billions

Jul 17, 2026

Sen. Elizabeth Warren delivered opening remarks at a July 16, 2026 Senate Banking Committee hearing grilling Acting CFPB Director Russ Vought. She accused the Trump administration of widespread corruption, family enrichment via crypto, selling pardons, and using the CFPB to favor donors by dropping enforcement actions. Warren highlighted specific dropped cases involving Navy Federal, Zelle, Regions Bank, and Capital One, claiming they cost families $26.5 billion and contrasted this with the agency's prior $21 billion in consumer redress since 2011. She tied actions to billionaire donors and Trump's unfulfilled day-one price promises amid rising costs. The segment is a partisan Democratic critique aired on Forbes Breaking News.

Source: Forbes Breaking News

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Velázquez questions CFPB statement requiring immigration status review in ability-to-repay assessments

Jul 15, 2026

The clip shows Rep. Nydia Velázquez (D-NY), ranking member of the House Small Business Committee, questioning CFPB leadership during a hearing about a recent agency statement on considering immigration status in credit decisions. She asks about prior consultation with creditors, compares the process to the section 1071 rulemaking, inquires about implementation costs, and offers a pointed analogy involving ICE agents before calling the policy outrageous and insulting. The segment relies on Velázquez's statements and questions; the CFPB official's responses note the statement clarifies existing law rather than creating new obligations, with no new rule or formal cost-benefit analysis issued. No additional guests or data visuals appear.

Source: Forbes Breaking News

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Rep. Beatty Questions Acting CFPB Director Vought on OMWI Compliance

Jul 15, 2026

The clip shows Rep. Joyce Beatty (D-OH) questioning Acting CFPB Director Russell Vought during a House Financial Services Committee hearing on the bureau's semi-annual report. Beatty raises issues including small business lending data under Dodd-Frank Section 1071, OMWI office staffing and compliance with Section 342, CDFI fund delays, housing counseling funding changes, and small business regulatory panels.

Source: Forbes Breaking News