RSSFinance industry files suit against arbitration rule
A group of more than twenty finance industry organizations filed suit against the Consumer Financial Protection Bureau, seeking to halt implementation of the bureau’s new arbitration rule.
Category Archives: News
CFPB finalizes payday lending rule
The rule requires payday lenders to determine upfront whether or not the consumer is capable of repaying the loan, among other restrictions.
CFPB fines title company for RESPA violations
The Consumer Financial Protection Bureau fined real estate settlement services provider Meridian Title Corporation $1.25 million for illegal kickbacks relating to consumers referred to an affiliated title-insurance business.
OCC fact-checks CFPB arbitration claims
The Office of the Comptroller of the Currency has released a report challenging the Consumer Financial Protection Bureau’s interpretation of an arbitration study.
More than a third of Americans struggle financially
Forty percent of U.S. adults struggle to make ends meet, according to a survey from the Consumer Financial Protection Bureau.
CFPB sues broker over victim compensation funds
The Consumer Financial Protection Bureau filed an enforcement action this week against Top Notch Funding, a New Jersey-based loan broker that targeted its offers at consumers who were awaiting payment from settlements in legal cases or from victim-compensation funds.
CFPB issues consent order against aggregator
Last week, the Consumer Financial Protection Bureau entered into a consent order with a lead aggregation company, Zero Parallel, and its CEO.
CPFB issues first no-action letter
Upstart Network has received the first no-action letter from the Consumer Financial Protection Bureau for its use of alternative data in credit and pricing decisions.
Department of Education rebukes CFPB ‘abuse’ in memo
The Department of Education recently delivered a letter to the Consumer Financial Protection Bureau providing notice of its intent to terminate two Obama-era Memoranda of Understanding between the agencies.
CFPB proposes final judgement in Prime Marketing case
The proposed order would permanently ban the company from doing business within the credit repair industry and require a $150,000 civil money penalty.
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