The details of the settlement made by BancorpSouth with the DOJ and the CFPB are shocking. The complaint outlines how a bank developed an explicit policy of not making loans in minority neighborhoods. The DOJ and the CFPB rightfully called out BancorpSouth for violations of the Equal Credit Opportunity Act and the Fair Housing Act. But why was BancorpSouth able to have these policies in place and then receive a "Satisfactory" on its CRA exam?

Harvest may have the new Directors at Green Dot that it wanted, but it won't be able to push overdraft against the wishes of the CFPB and Walmart.

There is plenty in the CFPB's new report on payday lending that re-iterates why it is important to have a strong payday rule. But perhaps the most interesting part is how it reveals the ways that banks are complicit in trapping consumers in the cycle of debt.