Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Practices and financial products that may leave workers indebted to their employers is the focus of an inquiry launched Thursday by the Consumer Financial Protection Bureau (CFPB). In a request for information (RFI), the bureau […]
An operator of a California-based student loan debt relief firm would be banned from the industry after allegedly withdrawing more than $240,000 from student loan borrowers’ accounts without their authorization, the federal consumer financial protection […]
A “no action letter” (NAL) has been terminated at the request of the company that initially received it so the firm could change its underwriting and pricing models but not be subject to additional review, […]
Americans, on average, saw an increase in their financial well-being between 2017 and 2020 – likely aided by the government’s COVID-19 response offering varying types of financial and economic assistance – but most of those […]
The leaders of six large credit card issuers have been asked to explain some of their companies’ practices of allegedly holding back information about payments made by consumers in letters from the consumer financial protection […]
Companies using complex algorithms for credit models – sometimes called “black box” – must provide specific and accurate explanations for denying applications for credit, the federal consumer financial protection agency said Thursday. In a release, […]
Spurring innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants is the aim of a new office created within the federal consumer financial protection agency (and replacing another), the […]
The federal consumer financial protection agency’s Consumer Advisory Board (CAB) is set to meet publicly June 8, according to a notice scheduled for publication Tuesday in the Federal Register. The CAB, which last met on […]
A debt collection enterprise based in upstate New York and charged two years ago for lying to and harassing consumers would be required to exit the debt collection market, pay $4 million in civil money […]
States’ broad authorities to enforce federal consumer financial protections are affirmed in an interpretive rule issued Thursday by the federal Consumer Financial Protection Bureau (CFPB) and set to take effect upon publication in the Federal […]
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