RSSCFPB to rescind BNPL rule
The Consumer Financial Protection Bureau plans to rescind its rule treating ‘buy now, pay later’ providers as credit card issuers.
Author Archives: CFPB Journal staff report
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.
Bill introduced to overturn CFPB medical debt rule
A bill introduced last week by Sen. Mike Rounds (R-S.D.) would overturn the Consumer Financial Protection Bureau rule banning medical debt and medical bills from credit reports.
CFPB given more time to settle card late fee lawsuit
Federal Judge Mark Pittman earlier this week granted the Consumer Financial Protection Bureau’s request for a 30-day pause in a lawsuit challenging its legal authority to cap most credit card late fees at $8.
CFPB dismisses several lawsuits
The Consumer Financial Protection Bureau voluntarily dropped enforcement actions this week against Capital One and Rocket Homes. The bureau also dropped lawsuits it had filed against Vanderbilt Mortgage and Finance, and others.
Acting CFPB director sets up tip line to report employee work
Acting Consumer Financial Protection Bureau Russ Vought recently opened a tip line on X for banks and other businesses to report CFPB staff for undertaking regulatory or enforcement work despite being called to cease activity.
McKernan nominated to lead CFPB
President Donald Trump nominated former FDIC Board Member Jonathan McKernan to direct the Consumer Financial Protection Bureau.
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