Combined fines of $225 million were assessed Thursday against Bank of America by two federal regulators accusing the bank of botching disbursement of state unemployment benefits at the height of the coronavirus crisis. In a […]
Charged with concealing free repayment plans from struggling borrowers – which allegedly resulted in borrowers paying up to thousands in reborrowing fees – a Texas-based payday lender has been sued by the federal consumer financial […]
Title: The Fair Credit Reporting Act’s Limited Preemption of State Laws Subject: FCRA; limited preemption of state law Agency: CFPB Status: Interpretive rule Summary: States play an important role in the regulation of consumer reporting. […]
Title: Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports Subject: FCRA; consumer credit reports Agency: CFPB Status: Advisory opinion Summary: The Consumer Financial Protection Bureau (Bureau) is issuing this advisory opinion […]
A call for applications from technical experts to support the agency’s work in consumer financial protection supervision and policymaking was issued this week by the Consumer Financial Protection Bureau (CFPB). In a blog post Thursday, […]
“Permissible purposes” are required when credit reporting companies – and users of credit reports – share credit and background reports, the federal consumer financial protection agency clarified Thursday in an advisory opinion. According to the […]
Title: Debt Collection Practices (Regulation F); Pay-to-Pay Fees Subject: Convenience fees Agency: CFPB Status: Advisory opinion Summary: Section 808(1) of the Fair Debt Collection Practices Act (FDCPA or Act) prohibits debt collectors from collecting any […]
Ensuring that stablecoin arrangements are subject to a federal framework on a “consistent and comprehensive basis” is an “urgent need,” Secretary of the Treasury Janet Yellen told a group of regulators Thursday. During a meeting […]
Qualified applicants who wish to serve on any of the four advisory panels for the Consumer Financial Protection Bureau (CFPB) have from July 5 to July 24 to submit completed application packets, the bureau said […]
Approval for a so-called “earned wage access” program was rescinded Thursday by the federal consumer financial protection agency after the firm that developed the program requested the rescission to make changes to its fee model, […]
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