The Consumer Financial Protection Bureau (CFPB) has asked the United States Congress for the authority to supervise compliance of the Military Lending Act (MLA), the organization announced on Thursday (Jan. 17). In a statement, CFPB Director Kathleen Kraninger said she asked Congress to grant the organization...
The Consumer Financial Protection Bureau (CFPB) has announced a settlement with payday lender Cash Express, which will pay approximately $32,000 in restitution to consumers, as well as a $200,000 civil money penalty for violating the Consumer Financial Protection Act (CFPA). Based in Tennessee, Cash Express...
The Consumer Financial Protection Bureau (CFPB) announced that it has filed a complaint against multiple parties, accusing them of making loans against future pension payments. The defendants include Future Income Payments, FIP, BuySellAnnuity, Cash Flow Investment Partners and approximately two dozen others. The lawsuit, filed...
Seth Frotman, an assistant director and student loan ombudsman for the Consumer Financial Protection Bureau (CFPB), had some harsh words for acting CFPB Director Mick Mulvaney in his resignation letter. Frotman has spent seven years in the CFPB’s student lending office, which Mulvaney stripped of most...
The Consumer Financial Protection Bureau announced Friday (August 10) that it entered into a settlement agreement with Richard Moseley, Sr., Richard Moseley, Jr., and 20 interrelated corporate entities controlled by the two regarding payday loans. In a press release, the CFPB said the father and son...
In a move that has surprised military families, the Consumer Financial Protection Bureau (CFPB) is planning to suspend routine examinations of lenders for violations of the Military Lending Act, which was designed to protect military service members and their families from financial fraud, predatory loans...
The Consumer Financial Protection Bureau (CFPB) may be hated by Republicans and the Trump White House, but it turns out to have strong support among consumers. According to the Chicago Tribune, Americans for Financial Reform and the Center for Responsible Lending are planning to release...
President Donald Trump’s pick to lead the Consumer Financial Protection Bureau (CFPB) held her own during intense questioning by Democratic Senators on Thursday (July 19). According to Reuters, Kathy Kraninger seems to be on track to secure a confirmation vote that could come this month....
The Consumer Financial Protection Bureau (CFPB) has announced that Paul Watkins, a lawyer, will lead the agency’s newly created Office of Innovation. “I am delighted that Paul Watkins is bringing his deep expertise, track record of protecting consumers and commitment to innovation to the Bureau,”...
