Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
A penalty of $2.175 million must be paid by a Las Vegas, Nev., firm for violations of federal law regulating lending to members of the military, the Consumer Financial Protection Bureau (CFPB) said Dec. 30. […]
A “dual-feature credit card” and a program allowing employees access to their earned but unpaid wages prior to payday got the green light Dec. 30 for limited time under two “compliance assistance sandbox” (CAS) approval […]
A $25 million civil money penalty, and a $10 million ding for consumer redress, was ordered against a bank and its student lending subsidiaries for violating previous orders, the federal consumer financial protection agency said […]
Providing erroneous consumer loan data to consumer reporting agencies over years at a time has earned a U.S. subsidiary of a Spanish bank a consent order from the federal consumer financial protection agency, which imposes […]
Banks, credit unions, and savings associations with assets of $48 million or less as of Dec. 31 are exempt from collecting data in 2021 under Regulation C (Home Mortgage Disclosure), the Consumer Financial Protection Bureau […]
Changes to two key websites maintained by the federal consumer financial protection agency, and which are used to help financial institutions share information or find answers to questions, are outlined under an annual report submitted […]
A large remittance provider was assessed a $750,000 civil money penalty over “thousands” of remittance rule violations and required to correct its practices under a consent order announced Monday by the Consumer Financial Protection Bureau […]
An advisory opinion clarifying the content that a for-profit organization must include in a written plan that establishes and administers a special purpose credit program (SPCP) under Regulation B, which implements the Equal Credit Opportunity […]
Two new executives have been named to the federal consumer financial protection agency, one a new face and the other a “veteran” of the relatively new agency, which was formed after 2010 legislation. Jocelyn Sutton […]
Debt collectors must provide, at the outset of collection communications, detailed disclosures about the consumer’s debt and rights in debt collection, along with information to help consumers respond, under a final rule issued Friday by […]
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