RSSConsumer complaints skyrocket during pandemic
The number of consumer complaints filed in the database of the Consumer Financial Protection Bureau has skyrocketed since the beginning of the pandemic.
Welcome to the CFPB Journal, your online publication for information about the Consumer Financial Protection Bureau.
If you work in financial services, you need CFPB Journal. Our team of seasoned reporters and editors brings you original coverage of the Bureau you won’t find anywhere else. Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Federal Reserve-housed Bureau has unprecedented authority, jurisdiction and power. Follow CFPB developments, learn how others are complying with CFPB rules, and monitor general public reaction to the Bureau by checking in often with the CFPB Journal.
Sign up for a FREE weekly update by entering your email address in the box at the upper right corner of this page. Each update contains our latest posts and a list of links to “best of the web” articles.
Spotlight
News
Time-barred debt collection proposal garners criticism
The comment period for the CFPB’s supplemental notice of proposed rule-making regarding the collection of time-barred debt closed on Aug. 4, attracting criticism from banker and consumer groups that it’s not adequately comprehensible.
Mortgage companies settle over ‘deceptive’ ads
The Consumer Financial Protection Bureau issued consent orders against Sovereign Lending Group, Inc., and Prime Choice Funding, Inc., over what the bureau called “deceptive” loan advertisements to servicemembers and veterans.
CFPB files suit against mortgage creditor
The Consumer Financial Protection Bureau filed a lawsuit against Townstone Financial, Inc., a nonbank retail-mortgage creditor based in Chicago, for violations of the Equal Credit Opportunity Act and its Regulation B as well as the Consumer Financial Protection Act.
CFPB sues student debt relief company
The Consumer Financial Protection Bureau has sued members of a student debt relief network, settling with some of them, over violations of the Telemarketing Sales Rule.
CFPB removes underwriting requirements from payday lending rule
The Consumer Financial Protection Bureau has removed mandatory underwriting requirements from the final version of its 2017 small dollar lending rule.