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 filed a complaint and proposed consent order alleging that American Advisors Group used “inflated and deceptive” home estimates to get consumers into taking out reverse mortgages.
Consumer credit card debt fell at an unprecedented pace last year, according to the annual Consumer Credit Card Market Report.
The Consumer Financial Protection Bureau has appointed new members to its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council and Academic Research Council.
The Consumer Financial Protection Bureau filed a lawsuit accusing a California software company and its owner of providing assistance to illegal credit-repair businesses.
The Consumer Financial Protection Bureau is suing LendUp Loans, LLC, for allegedly violating a 2016 consent order and committing deceptive acts against consumers.