As the Consumer Finance Protection Bureau (CFPB) remains in the crosshairs of the Trump administration and members of Congress, data privacy has been top of mind — namely, who should have access to that data. According to news from Fortune Magazine, the Financial CHOICE Act, which was approved...
The Consumer Financial Protection Bureau (CFPB) has reversed course about debt collection, and, as The American Banker noted, “in a big win for third-party debt collectors,” has said that banks, among other first-party creditors, must be responsible for accuracy of their consumer debt data. In...
The Consumer Financial Protection Bureau (CFPB) announced in a press release that it sent letters to top retail credit card companies encouraging them to use more transparent promotions for the sake of consumer protection. With many retailers using credit cards with deferred-interest promotions, the CFPB expressed...
In another salvo lobbed by Congress and, specifically, Republicans toward the Consumer Financial Protection Bureau (CFPB), the House Financial Services Committee is, as The American Banker puts it, “threatening to file contempt charges” against the agency’s head, Richard Cordray. Those charges would come in response to what the Committee...
The Consumer Financial Protection Bureau released its monthly complaint report Wednesday (May 31) that showed older consumers frequently report servicing problems with reverse mortgages, difficulties recovering money after financial scams, confusion around deferred interest credit cards and frustration when experiencing charges for unauthorized add-on products. In...
After seven years of offering close scrutiny to any and all aspects of consumer lending — mortgage underwriting, car loans, short-term lending, credit cards, debt collection, pre-paid cards, arbitration — as of this month, the Consumer Finance Protection Bureau is broadening its horizons into small business lending...
Constitutional after all? The Consumer Financial Protection Bureau got a win (and depending on which side of the argument you favor, so did consumers) when a U.S. appeals court, admittedly divided, seemed to give the edge to the argument that the CFPB’s current structure does...
The Consumer Financial Protection Bureau (CFPB) and its director Richard Cordray’s fate lies in the hands of an appeals court that will hear oral arguments on Wednesday (May 24) in a case between the CFPB and lender and loan servicer PHH Corp. According to a...
The Consumer Financial Protection Bureau (CFPB) will see a federal appeals court hear oral arguments later this week on the constitutionality of the government watchdog in the case of PHH Corp. versus CFBP. According to a report in The American Banker, the case is being closely...
