Consumer Financial Protection Bureau (CFPB) Chief Richard Cordray is resigning from his position as soon as the end of this month. According to news from CNBC, Cordray, who has been the subject of much Republican ire, announced his resignation in an email to staff. “As I have...
The Consumer Financial Protection Bureau (CFPB) is looking for more information on consumers’ experiences with using sites that promise free access to a credit score. Published in the Federal Register yesterday, the request for information (RFI) also extends to consumer data about companies and nonprofits...
The White House announced that President Donald Trump signed a Congressional resolution allowing banks to block customers from filing class-action lawsuits. According to news from Reuters, the resolution kills a Consumer Financial Protection Bureau (CFPB) rule that was set to go into effect next spring, giving...
According to the latest report by the Consumer Financial Protection Bureau (CFPB), long-term auto loans are on the rise. The CFPB’s data finds that 42 percent of auto loans made in the last year carried a payback term of six years or more, compared to...
The Consumer Financial Protection Bureau (CFPB) has launched a new online tool that tracks mortgage delinquencies nationwide. In addition to national data, the Mortgage Performance Trends tool features interactive charts and graphs. Currently, the tool shows that national mortgage delinquency rates are at their lowest...
Last week, at the end of an otherwise dramatic day on Capitol Hill, the Senate managed to pull off something of a twist ending: the repeal of the CFPB’s arbitration rule via a Senate vote that invoked the Congressional Review Act (CRA) to prevent the rule from ever...
The arbitration clause rule has been formally smacked down by the U.S. Senate — after the 50-50 tie vote was broken by VP Mike Pence. Yes, the same Congress that has been unable to authorize health care for poor children for a month — or...
Facing a world where data aggregation has become increasingly complex and dangerous, the CFPB has released a series of non-binding principles that are designed to help protect consumer data after it’s been authorized for a third-party use by that consumer. The goal, according to the...
The Consumer Financial Protection Bureau (CFPB) made big waves, and generated a lot of headlines, with news last week that the final draft of its short-term loan regulations had finally dropped like an anvil onto the heads of the short-term lending industry, particularly on segments dealing with products like...
