WASHINGTON — The Trump administration’s consideration of J. Mark McWatters to lead the Consumer Financial Protection Bureau is stoking fears among bankers that he will show favor to credit unions once in office. In his current position as chair of the National Credit Union Administration, McWatters has publicly advocated for cutting back the CFPB’s oversight…
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Richard Cordray is not going out meekly. A week before he is due to resign, the director of the Consumer Financial Protection Bureau sent a letter to 29 chief executives at banks, credit unions and other financial companies, urging them to help consumers exert more control over credit cards, debit cards and other payment methods.…
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The financial technology revolution, which is being led by entrepreneurs rethinking everything from the way people save to how they apply for a mortgage, has the potential to put consumers in control of their own financial lives — so long as their various financial accounts can work seamlessly together with the third-party app the consumer…
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