On Wednesday (May 18), the Consumer Financial Protection Bureau said that it, along with four other federal regulatory agencies, issued guidance covering the oversight of consumer deposit discrepancies. The agencies said that the interagency guidelines state that the banks should “avoid or reconcile” what is...
It’s official. The CFPB is moving toward a rule change that will make it much easier for consumers — or more specifically groups of consumers — to take banks and other financial institutions to court as part of class action lawsuits. Get the Full Story Complete the form...
Later this morning the CFPB will begin taking comments on proposed rules that would ban financial firms from placing mandatory arbitration clauses within consumer contracts. Said clauses ban consumers from seeking redress for potential issues in a court of law, in favor of disputes between...
The CFPB has its eye on the biggest marketplace lenders in the U.S., and it is leaning toward bringing those online businesses under its supervision within the next year or so. That transition would see this class of lenders facing — for the first time...
U.S. consumers logged growth in complaints to the CFPB, especially focused on debt collectors. Mortgages remain a problem in terms of accurate and timely communication with holders.
The Consumer Financial Protection Bureau said on Monday (April 25) that it ordered the debt collection law firm Pressler & Pressler, two principal partners and another debt buyer — New Century Financial Services — to “stop churning out unfair and deceptive debt collection lawsuits based...
The Consumer Financial Protection Bureau is readying its final rule proposal with an eye on limiting arbitration clauses, in a move that is expected to come on May 5. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
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The Consumer Financial Protection Bureau said on Tuesday (April 12) that it is adding half a dozen professionals to a number of leadership positions at the organization. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
