Posts in CFPB.

Mick Mulvaney's tenure as acting director of the Consumer Financial Protection Bureau ("CFPB" or "the Bureau"), a position he has held since November of 2017, is coming to an end. It is anticipated that President Trump's nominee, Kathleen Kraninger, will take over as the Bureau's director once confirmed by the Senate. In a speech to the Women in Housing and Finance group on May 29, 2018, Mulvaney announced that the Bureau is working closely with the Commodity Futures Trading Commission to implement a "regulatory sandbox" that will enable financial technology ("FinTech") firms to ...

Back in August 2014, the CFPB published a Consumer Advisory entitled, "Risks to consumers posed by virtual currencies." In the Advisory, the CFPB informs consumers of the risks associated with blockchain currency, including scams, cost as compared with credit cards, fewer protections when something goes awry, and the potential for hackers.

In the Advisory, the CFPB warns consumers about bitcoin and other blockchain currency. Risks include the threat of hackers and scammers that pose serious security threats. Because bitcoin and other blockchain currencies are virtual, fraud ...

Posted in: Blockchain, CFPB
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