RSSSupreme Court: President can fire CFPB director at will
In a 5-4 decision, the Supreme Court has ruled that the current structure of the Consumer Financial Protection Bureau is unconstitutional, although it left its existence intact.
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Spotlight
News
CFPB will retire debt-to-income requirement for qualified mortgages
The Consumer Financial Protection Bureau has proposed ending the current debt-to-income requirements behind qualified mortgage status under the Truth in Lending Act’s ability-to-repay requirements.
CFPB releases elder fraud prevention tool
The Consumer Financial Protection Bureau released an online resource to help communities form networks to help prevent and respond to elder financial abuse.
CFPB issues additional CARES Act guidance
The Consumer Financial Protection Bureau issued guidance to mortgage servicers to assist in complying with the Coronavirus Aid, Relief and Economic Security Act provisions granting a right to forbearance to consumers impacted by the COVID-19 pandemic.
Short-term lender ordered to pay $3.5 million
Main Street Personal Finance, Inc., and two of its subsidiaries have settled with the Consumer Financial Protection Bureau over consumer financial protection violations.
CFPB files lawsuit against credit-repair telemarketer
The Consumer Financial Protection Bureau filed a lawsuit against Commonwealth Equity Group, LLC, which does business as Key Credit Repair, and its president and owner Nikitas Tsoukales.