RSSCFPB sues California loan company
The Consumer Financial Protection Bureau is suing LendUp Loans, LLC, for allegedly violating a 2016 consent order and committing deceptive acts against consumers.
Author Archives: CFPB Journal staff report
CFPB issues small business data collection rule
The Consumer Financial Protection Bureau proposed a rule governing the collection of small business lending data. Under the proposal, which would implement Section 1071 of the Dodd-Frank Act, lenders would be required to report the amount and type of small business credit applied for and extended, demographic information about small business credit applicants, and key elements of the price of the credit offered.
Trade groups back bipartisan commission bill
An assortment of financial industry trade groups have thrown their support behind H.R. 4773, the Consumer Financial Protection Commission Act, which would alter the leadership structure of the Consumer Financial Protection Bureau.
Refinance boom drives mortgage spike, CFPB report finds
The total number of closed-end originations as well as applications increased substantially between 2019 and 2020, according to a report from the Consumer Financial Protection Bureau.
CFPB settles with debt collector
The Consumer Financial Protection Bureau has filed a proposed settlement, including an $850,000 civil money penalty, to resolve a lawsuit against a debt collection company and its owner.
CFPB wants mortgage servicers to audit pandemic response metrics
Mortgage servicers should compare internal metrics to data in a recently released agency report to “identify opportunities for, and demonstrate concrete efforts toward, improvement,” the Consumer Financial Protection Bureau said.
Debt collection rules will go into effect as planned
The Consumer Financial Protection Bureau confirmed that two proposed rules issued under the Fair Debt Collection Practices Act will take effect as planned, on November 30.
Consumer credit applications rebound to pre-pandemic numbers
Consumer credit applications, including mortgages, car loans and credit cards, have largely returned to pre-pandemic levels, according to a report from the Consumer Financial Protection Bureau.
CFPB, FDIC update financial literacy program for elders
The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp., have released an enhanced version of their financial education curriculum, “Money Smart for Older Adults”.
CFPB fines GreenSky over fraudulent loans
The Consumer Financial Protection Bureau issued a consent order against GreenSky, LLC, alleging the Atlanta company enabled contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them.
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