The Consumer Financial Protection Bureau proposed a rule governing the collection of small business lending data. Under the proposal, which would implement Section 1071 of the Dodd-Frank Act, lenders would be required to report the amount and type of small business credit applied for and extended, demographic information about small business credit applicants, and key elements of the price of the credit offered.
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The Consumer Financial Protection Bureau is suing LendUp Loans, LLC, for allegedly violating a 2016 consent order and committing deceptive acts against consumers.
An assortment of financial industry trade groups have thrown their support behind H.R. 4773, the Consumer Financial Protection Commission Act, which would alter the leadership structure of the Consumer Financial Protection Bureau.
The total number of closed-end originations as well as applications increased substantially between 2019 and 2020, according to a report from the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau has filed a proposed settlement, including an $850,000 civil money penalty, to resolve a lawsuit against a debt collection company and its owner.
Mortgage servicers should compare internal metrics to data in a recently released agency report to “identify opportunities for, and demonstrate concrete efforts toward, improvement,” the Consumer Financial Protection Bureau said.