CFPB sues another payday lender
The Consumer Financial Protection Bureau last week filed a federal lawsuit against All American Check Cashing, a payday lender with dozens of locations in the south
The Consumer Financial Protection Bureau last week filed a federal lawsuit against All American Check Cashing, a payday lender with dozens of locations in the south
Last week, the CFPB announced a new rule banning arbitration clauses in consumer contracts for a variety of products and services, however many are concerned that now the only way into a courtroom is with a class-action lawsuit
The CFPB announced that it would use its authority under the Dodd-Frank Act to prohibit the use of mandatory arbitration clauses in contracts, alleging that these clauses “deny customers their day in court.”
The Consumer Financial Protection Bureau entered into a consent order with a debt collection organization over questionable lawsuits.
A federal judge struck a blow to the Consumer Financial Protection Bureau’s recent foray into college accreditation, ruling that the bureau lacks the authority to investigate how accreditors approve for-profit colleges.
On April 12, the Consumer Financial Protection Bureau was in federal court defending its governance structure against a lawsuit filed by PHH Mortgage pursuant to a penalty levied by the Bureau last year. If the initial interrogatories and oral arguments are any indication, the CFPB may face a significant restructuring.
The Consumer Financial Protection Bureau has amassed more than $300 million in its consumer relief fund, according to a budget report issued by the Bureau in February.
Independent mortgage banks are starting to feel the sting from new mortgage rules implemented by the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declares bankruptcy or dies.
The Consumer Financial Protection Bureau issued an interim final rule on March 22 which will broaden special provisions for small creditors that operate in rural or underserved areas.