CFPB Journal staff report

CFPB reaches settlement with pawn shop company

The Consumer Financial Protection Bureau recently reached a $9 million settlement in its 2021 lawsuit against pawn shop company FirstCash, Inc.

CFPB terminates consent order against Navy Federal Credit Union

The Consumer Financial Protection Bureau recently terminated its consent order against Navy Federal Credit Union and waived any non-compliance allegations against the company.

CFPB to stop using civil penalty funds to finance education programs

The Consumer Financial Protection Bureau plans to stop using civil penalty funds to finance consumer education and financial literacy programs, according to a proposal published June 18.

Horowitz selected to lead CFPB IG office

Longtime attorney and government official Michael Horowitz was appointed to lead the Office of Inspector General for both the Consumer Financial Protection Bureau and Federal Reserve.

CFPB to scrap Section 1033

The Consumer Financial Protection Bureau plans to scrap the Section 1033 rule on open banking, the bureau announced on May 23.

CFPB to rescind BNPL rule

The Consumer Financial Protection Bureau plans to rescind its rule treating ‘buy now, pay later’ providers as credit card issuers.

CFPB won’t enforce Section 1071

The Consumer Financial Protection Bureau is not planning to enforce Section 1071, the bureau announced on May 1.

House votes to overturn CFPB overdraft, payments oversight rules

The House of Representatives on April 9 voted to overturn the Consumer Financial Protection Bureau’s proposal to limit the overdraft fees banks with more than $10 billion in assets can charge and the bureau’s oversight of the largest payment firms.

CFPB planning changes to Section 1071

The Consumer Financial Protection Bureau plans to soon propose replacing or changing Section 1071.

CFPB vacates judgment against Townstone Financial

The Consumer Financial Protection Bureau recently vacated its $105,000 settlement with Townstone Financial and ordered the company to be refunded after finding the bureau had engaged in misconduct by targeting the mortgage lender’s free speech protections.