RSSCFPB 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.
Author Archives: CFPB Journal staff report
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.
Report highlights mortgage servicing, fair lending violations
A 2021 supervisory highlights report from the Consumer Financial Protection Bureau covering the first half of the year highlighted mortgage servicing, fair lending, payday loan and remittance violations.
CFPB director pledges tougher stand on bank overdraft, NSF fees
Consumer Financial Protection Bureau Director Rohit Chopra is pledging to take a stronger stand against bank overdraft and non-sufficient fund fees by enhancing supervisory and enforcement scrutiny of financial institutions “that are heavily dependent on overdraft fees.”
CFPB seeks feedback on HMDA collection
The Consumer Financial Protection Bureau is asking for input on rules implementing the Home Mortgage Disclosure Act as it considers a review of their effectiveness.
CFPB reinstates foreclosure requirements
The Consumer Financial Protection Bureau is reinstating some foreclosure timing requirements around Regulation X, it said in a joint statement with other government agencies.
CFPB warns companies over name-matching
Consumer reporting companies that rely on name-matching alone to match records to an individual are violating the Fair Credit Reporting Act, the Consumer Financial Protection Bureau said.
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