CFPB responds to COVID-19

The Consumer Financial Protection Bureau announced a number of changes to help consumers and regulated businesses amid the fallout from the COVID-19 pandemic. It suspended several data collection requirements, tweaked its examination structure and joined other federal regulators in urging financial institutions to work with impacted customers.

Sen. Sherrod Brown wants agencies to halt non-COVID-19 rulemaking

A Senate democrat urged federal financial regulators to shelve rulemaking projects that aren’t related to the coronavirus pandemic, and suggested the agencies’ priority be protecting the financial system and mitigating economic fallout from the outbreak.

CFPB wants to pay whistleblowers

The Consumer Financial Protection Bureau is working on legislation to authorize payments to whistleblowers who report violations of Federal consumer financial law.

CFPB settles Think Finance lawsuit

The Consumer Financial Protection Bureau proposed settlement with Think Finance, LLC, formerly known as Think Finance, Inc., and six subsidiaries which would resolve a 2017 lawsuit.

CFPB finally offers definition of ‘abusive’

The Consumer Financial Protection Bureau has finally offered a clarification of the ‘abusive’ standard laid out in the Dodd-Frank Act nearly a decade after its passage. The CFPB said it would focus on citing or challenging conduct as abusive in supervision and enforcement matters only when “the harm to consumers outweighs the benefit.”

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