RSSCFPB moves to curb ‘improper’ car repossessions
As the secondary auto market continues its brisk pace, the Consumer Financial Protection Bureau issued a compliance bulletin to help prevent “improper” repossessions.
Author Archives: CFPB Journal staff report
CFPB adds medical billing to focus areas
The Consumer Financial Protection Bureau has issued a report drawing attention to consumer financial issues in medical billing, marking it as the latest area of focus for the agency.
CFPB increases focus on PSLF program
The Consumer Financial Protection Bureau issued a bulletin recommending actions servicers should consider taking to ensure they do not misrepresent borrower eligibility or make deceptive statements to borrowers about the Public Service Loan Forgiveness program and an expanded forgiveness waiver issued in October 2021.
Prepaid cards cannot be sole means of issuing benefits, CFPB says
The CFPB issued a compliance bulletin today outlining the existing prohibitions against prepaid cards being the sole method for distributing government benefits.
CFPB reminds appraisers of anti-discrimination requirements
The Consumer Financial Protection Bureau wants The Appraisal Foundation, which sets standards for appraisers, to include “clear warnings” about federal anti-discrimination requirements in its standards and training for appraisers.
CFPB eyes ‘criminal justice financial ecosystem’
The criminal justice system features “an ecosystem rife with burdensome fees and lack of choice,” according to a recent report from the Consumer Financial Protection Bureau.
CFPB signals scrutiny of credit card fees
The Consumer Financial Protection Bureau wants to take a closer look at credit card fees, according to a blog post on the agency’s website. “Given the outsize role that credit card debt plays for many households, the CFPB is looking to ensure that there is robust and fair competition in the credit card market,” the bureau said.
CFPB issues order against payment processor
The Consumer Financial Protection Bureau has filed a proposed final judgement and order against BrightSpeed Solutions and its founder Kevin Howard over their alleged participation in fraudulent services and products.
More than half of recent CFPB complaints involve credit bureaus
More than half of the complaints submitted to the Consumer Financial Protection Bureau from January 2020 through last summer involved major credit bureaus Equifax, Experian and TransUnion, according to a Jan. 5 CFPB report.
LendUp halts business over marketing, fair lending violations
Online lender LendUp has ceased operations over allegations it continued to engage in illegal and deceptive marketing in violation of a 2016 order from the Consumer Financial Protection Bureau.
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