CFPB

CFPB: Payday Borrowers Are Missing Out on Extended Payment Plans
CFPB: Payday Borrowers Are Missing Out on Extended Payment Plans
April 06, 2022  |  Alternative Credit

The Consumer Financial Protection Bureau (CFPB) on Wednesday (April 6) reported that most payday loan borrowers haven’t benefitted from extended payment plans, which lenders must...

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21 Attorneys General Urged CFPB to Regulate BNPL
21 Attorneys General Urged CFPB to Regulate BNPL
April 06, 2022  |  CFPB

On March 25, the Consumer Financial Protection Bureau (CFPB) closed its request for comments regarding the inquiry on buy now, pay later (BNPL) that it...

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CFPB Report Shows Credit Card Late Fees Declining, Below Set Limits
CFPB Report Shows Credit Card Late Fees Declining, Below Set Limits
April 01, 2022  |  CFPB

The Consumer Financial Protection Bureau published on March 29 a report on credit card late fees where the regulator provided data about the amount of...

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Edfinancial Lied About Student Loans, CFPB Says
Edfinancial Lied About Student Loans, CFPB Says
March 30, 2022  |  CFPB

Student loan servicer Edfinancial Services lied to borrowers about their forgiveness and repayment options, the Consumer Financial Protection Bureau said Wednesday (March 30). The CFPB...

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CFPB’s Chopra Proposes Structural Remedies for Repeat Offenders
CFPB’s Chopra Proposes Structural Remedies for Repeat Offenders
March 29, 2022  |  Regulation

In a speech at the University of Pennsylvania Monday (March 28), Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra urged regulators and enforcers, including the...

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CFPB: Credit Card Companies Charged $12B in Late Fees in 2020
CFPB: Credit Card Companies Charged $12B in Late Fees in 2020
March 29, 2022  |  CFPB

Credit card companies charged $12 billion in late fees in 2020, with poorer Americans paying far more than wealthier people. That’s according to a report...

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CFPB Extends ‘Junk Fees’ Deadline After Receiving 25,000 Comments
CFPB Extends ‘Junk Fees’ Deadline After Receiving 25,000 Comments
March 28, 2022  |  Regulation

The Consumer Financial Protection Bureau (CFPB) is extending its deadline to submit comments on its public consultation on “junk fees” until April 11. The CFPB...

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CFPB’s Chopra: Report ‘Underscores’ Need for Fair Real Estate Appraisals
CFPB’s Chopra: Report ‘Underscores’ Need for Fair Real Estate Appraisals
March 23, 2022  |  CFPB

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra has said the new report from the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE)...

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CFPB Releases Policy Guidance Related to Fake and Dishonest Reviews
CFPB Releases Policy Guidance Related to Fake and Dishonest Reviews
March 22, 2022  |  CFPB

The Consumer Financial Protection Bureau (CFPB) on Tuesday (March 22) unveiled policy guidance on “potentially illegal practices related to consumer reviews,” saying it “seeks to...

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