Consumer Financial Protection Bureau Director Rohit Chopra is pledging to take a stronger stand against bank overdraft and non-sufficient fund fees by enhancing supervisory and enforcement scrutiny of financial institutions “that are heavily dependent on overdraft fees.”
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The Consumer Financial Protection Bureau has filed a proposed final judgement and order against BrightSpeed Solutions and its founder Kevin Howard over their alleged participation in fraudulent services and products.
More than half of the complaints submitted to the Consumer Financial Protection Bureau from January 2020 through last summer involved major credit bureaus Equifax, Experian and TransUnion, according to a Jan. 5 CFPB report.
Online lender LendUp has ceased operations over allegations it continued to engage in illegal and deceptive marketing in violation of a 2016 order from the Consumer Financial Protection Bureau.
A 2021 supervisory highlights report from the Consumer Financial Protection Bureau covering the first half of the year highlighted mortgage servicing, fair lending, payday loan and remittance violations.
The Consumer Financial Protection Bureau is asking for input on rules implementing the Home Mortgage Disclosure Act as it considers a review of their effectiveness.