Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Findings from a review of the overall effectiveness of the Home Mortgage Disclosure Act (HMDA) rule, from 2015 forward, are provided in 177-page report released Friday by the Consumer Financial Protection Bureau (CFPB). The bureau […]
Borrowers who use “Buy Now, Pay Later” (BNPL) programs are more likely to exhibit measures of financial distress than non-users, and they are also more likely to be active users of high interest products including […]
High fees through financial products that “chip away” at public benefits such as Social Security and unemployment compensation are highlighted by the federal consumer financial protection bureau in an Issue Spotlight made public Wednesday. The […]
Review of a “sandbox application” about consumer disclosures of a loan that finances both a construction phase and the permanent purchase of a home is in the final stages by the federal consumer financial protection […]
A mortgage loan business that was ordered in 2015 to stop deceptive advertising to military families was permanently banned from the business Monday and ordered to pay a $1 million civil money penalty (CMP) by […]
Nine large auto lenders were issued orders Thursday to provide information about their auto lending portfolios as part of a pilot program for collecting auto lending data, the Consumer Financial Protection Bureau (CFPB) said. Announcing […]
Extending prohibited title loans to military families, and charging nearly three times over the 36% annual interest rate cap for some of those, has earned a Savannah, Ga., firm a $10 million penalty, and another […]
A one-third decline in collections items on consumer credit reports indicates lessening financial distress on households, but inaccuracy of medical debt on credit reports continues to be a drag on those same families, according to […]
A reference chart for regulatory reporting of Home Mortgage Disclosure Act (HMDA) data collected this year was released Thursday by the federal consumer financial protection agency. According to the Consumer Financial Protection Bureau (CFPB), the […]
Bank overdraft fee income has dropped precipitously since before the onset of the coronavirus crisis, according to a federal consumer financial protection agency report issued Tuesday – and banks have not yet replaced that income […]
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