Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
The consumer financial protection agency on Wednesday suggested its work focusing on surprise overdraft fees has led to “at least 20” of the largest banks in the country to no longer charge such fees and […]
“Earned wage access” products need clarification as to whether they are subject to truth-in-lending disclosures, the congressional watchdog said in a report issued Wednesday. The Government Accountability Office (GAO) said its report found that the […]
An information-sharing agreement aimed at alleged practices that harm workers in the “gig economy” was announced Tuesday by the federal labor relations and consumer financial protection agencies. According to the Consumer Financial Protection Bureau (CFPB) […]
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 […]
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