CFPB Issues Report Showing Many Americans Are Surprised by Overdraft Fees
New report finding that many consumers are still being hit with unexpected overdraft and nonsufficient fund fees…
House Passes Resolution to Void Section 1071 Rule
The House passed a resolution of disapproval for the Consumer Financial Protection Bureau’s section 1071 rule Friday
CFPB and 11 States Order Prehired to Provide Students More than $30 Million in Relief for Illegal Student Lending Practices
Prehired will void all outstanding income share agreements, refund harmed borrowers, and permanently cease operations
Agencies Announce Dollar Thresholds for Applicability of Truth in Lending and Consumer Leasing Rules for Consumer Credit and Lease Transactions
The Federal Reserve Board and the Consumer Financial Protection Bureau today announced the dollar thresholds used to…
CFPB Proposes New Federal Oversight of Big Tech Companies and Other Providers of Digital Wallets and Payment Apps
CFPB is proposing to supervise larger nonbank companies that offer services like digital wallets and payment apps.
CUNA ‘concerned’ with CFPB Personal Financial Data Rights Proposal
CFPB released its personal financial data rights proposed rule Thursday, which lays out requirements for financial institutions, card issuers, and other payment facilitation providers to share certain consumer financial data with third-parties at the behest of consumers.
CFPB Proposes Rule to Jumpstart Competition and Accelerate Shift to Open Banking
Personal Financial Data Rights rule would challenge industry to compete for customers, protect consumers from excessive surveillance, and help people walk away from bad service
Senate Passes Resolution of Disapproval for CFPB’s 1071 Rule
The Senate passed a joint resolution of disapproval Wednesday on the Consumer Financial Protection Bureau’s section 1071 rule.
CFPB Mortgage Report Finds Jumps in Closing Costs and Denials for Insufficient Income, Growing Proportion of Cash-Out Refinances
Overall mortgage lending falls amid significant rise in interest rates and discount points
CFPB Kicks Off Rulemaking to Remove Medical Bills from Credit Reports
Proposals under consideration would help end coercive debt collection tactics, clean up inaccurate data, and improve credit score predictiveness
CFPB Reaches Multibillion Dollar Settlement with Credit Repair Conglomerate
Largest credit repair brands in America, including Lexington Law and CreditRepair.com, perpetrated yearslong scheme to illegally harvest billions in fees
CFPB Penalizes Freedom Mortgage and Realty Connect for Illegal Kickbacks
Today, the Consumer Financial Protection Bureau (CFPB) took action against Freedom Mortgage Corporation (Freedom) for providing illegal…
Court Grants Credit Union Motion to Intervene in 1071
The U.S. District Court for the Southern District of Texas granted the motion to intervene filed by CUNA, the Cornerstone League, and Rally Credit Union Monday.
CFPB Report Shows Workers Face Risks from Employer-Driven Debt
Report follows launch of public inquiry into the challenges and prevalence of employer-driven debt
Joint Statement by Didier Reynders, Commissioner for Justice and Consumer Protection of the European Commission and Rohit Chopra, Director of the United States CFPB
Commissioner for Justice and Consumer Protection of the European Commission and the Director of the United States CFPB announced the start of an informal dialogue between the European Commission and the US CFPB on a range of critical financial consumer protection issues.
State Partners and CFPB Sue Prehired For Illegal Student Lending Practices
Education outfit induced borrowers to take on debt based on false promises about jobs and income, engaged in bait-and-switch tactics on “income-share” loans
CFPB, U.S. Department of Health and Human Services, and U.S. Department of Treasury Launch Inquiry into Costly Credit Cards and Loans Pushed on Patients for Health Care Costs
Public input will bolster agencies’ broad efforts to safeguard consumers against predatory medical debt and collections practices
CUNA-sought CDFI Reforms in House FY24 FSGG Appropriations Bill
The House Appropriations Subcommittee on Financial Services and General Government FSGG released its FY24 draft bill Wednesday night with several items of interest to credit unions.
CFPB Report Identifies Issues with Increased Servicemember Use of Digital Payment Apps
Annual report also highlights other financial challenges facing the military community
CFPB Issue Spotlight Analyzes "Artificial Intelligence" Chatbots in Banking
The Consumer Financial Protection Bureau released a new issue spotlight on the expansive adoption and use of chatbots by financial institutions.