Michael Ogden

2 days ago | cutimes.com | Michael Ogden |Peter Strozniak

Department of Justice. Credit/Shutterstock The U.S. Department of Justice on Friday mounted a sweeping legal defense of former President Donald Trump’s decision to remove NCUA Board Members Todd Harper and Tanya Otsuka, arguing in court that the president holds broad constitutional authority to dismiss such officers without cause.

3 days ago | cutimes.com | Michael Ogden

Banking and credit union leaders applaud the rule being overturned. Credit: The White House via Wikimedia Commons President Donald Trump has signed a Congressional Review Act (CRA) resolution to overturn the Consumer Financial Protection Bureau’s (CFPB) controversial final rule on overdraft services, drawing praise from the credit union and community banking industries.

5 days ago | cutimes.com | Michael Ogden

The Cornerstone Credit Union League and Consumer Data Industry Association file a lawsuit challenging the new rule in January. Credit: Gorodenkoff/Adobe Stock A federal court has granted two individuals and two consumer advocacy groups the authority to defend a CFPB rule that would ban medical debt from appearing on consumer credit reports. The groups stepped in after the CFPB itself declined to continue defending the rule.

5 days ago | cutimes.com | Michael Ogden

DCUC was quick to praise the move saying this will modernize the Bureau’s “regulatory posture”. CFPB headquarters in Washington, D.C. Credit/Shutterstock The CFPB will officially withdraw dozens of non-binding guidance documents, including interpretive rules, advisory opinions, and policy statements dating back more than a decade.

1 week ago | cutimes.com | Michael Ogden

In her first interview since being ousted from the NCUA Board, Tanya Otsuka is speaking candidly about the abrupt email that ended her tenure and the broader implications for the future of independent financial regulators. “I tucked my kids in, put them to bed, and then later that night I went and checked my email and saw that this email was there that the administration was attempting to remove me from the position,” Otsuka recalled. Otsuka was sworn into her role on Jan.