CFPB offers insight into regulation decisions
Last month, Consumer Financial Protection Bureau Deputy Director Steven Antonakes delivered remarks at a financial industry function.
Last month, Consumer Financial Protection Bureau Deputy Director Steven Antonakes delivered remarks at a financial industry function.
The Dodd-Frank law of 2010 that created the Consumer Financial Protection Bureau included an amendment that specifically exempted auto dealers from regulation by the new entity. Despite that prohibition, the CFPB has taken steps to indirectly regulate the industry by proposing new rules applicable to the banks that work with auto dealers to provide auto financing.
The Dodd-Frank Act authorizes the Consumer Financial Protection Bureau to enforce more than a dozen existing statutes in defense of consumers.
Continental Finance Company, a subprime credit card servicer, has agreed to refund $2.7 million to customers, according to a consent decree signed with the Consumer Financial Protection Bureau.
Last week, the Consumer Financial Protection Bureau issued a report studying the use of overdraft fees on checking accounts.
A scathing article this week in Forbes offers a startling look at some dubious research practices used by the Consumer Financial Protection Bureau when investigating alleged discriminatory lending in the auto loan industry.
The National Association of Federal Credit Unions has submitted a letter to Congressional leaders outlining its top priorities for 2015. Among other things, the letter calls for relief from over-regulation by the Consumer Financial Protection Bureau.
Mid-term election results promise to increase the pressure that the Republican party has been putting on the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau took its first action ever against a car dealership last week. DriveTime Automotive Group Inc., an Arizona-based company that sells vehicles as well as originating and servicing auto loans, was the target.
The Consumer Protection Financial Bureau announced last week that it is taking action against Franklin Loan Corporation for violations of the Federal Reserve Board’s loan originator compensation rule.