CFPB Journal staff report – Page 26

CFPB seeks comment on remission rule

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking relating to the remittance rule.

CFPB settles with military travel lender and servicer

The Consumer Financial Protection Bureau has settled with Edmiston Marketing, LLC, its principal Brandon Edmiston, and USA Service Finance, LLC, for a variety of violations.

CFPB issues clarification for temporary loan originators

The Consumer Financial Protection Bureau issued an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority, effective Nov. 24.

Task force on federal consumer law launched

The Consumer Financial Protection Bureau announced that it will establish a taskforce to examine ways to ‘harmonize and modernize’ federal consumer financial laws.

CFPB names advisory board members

Consumer Financial Protection Bureau Director Kathy Kraninger announced the appointment of members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.

CFPB files suit against credit brokers

The Consumer Financial Protection Bureau and the South Carolina Department of Consumer Affairs filed a lawsuit in federal district court in the District of South Carolina against Katharine Snyder, Performance Arbitrage Company, Inc., and Life Funding Options, Inc.

CFPB launches innovation partnership

The Consumer Financial Protection Bureau has launched the American Consumer Financial Innovation Network in partnership with multiple state regulators. ACFIN is aimed at enhancing coordination among federal and state regulators to facilitate financial innovation. The bureau also announced several new policies designed to promote innovation.

CFPB settles with Illinois debt collection firm

The Consumer Financial Protection Bureau has settled with Asset Recovery Associates, Inc., a debt-collection company headquartered in Illinois, over allegations it falsely threatened consumers.

ITT settles CFPB suit

The Consumer Financial Protection Bureau has settled its suit against ITT Educational Services, Inc. The suit alleged that ITT engaged in unfair and abusive practices in connection with its private loan program in violation of the Consumer Financial Protection Act of 2010.

CFPB settles with N.Y. debt collection group

The Consumer Financial Protection Bureau filed proposed settlements with debt collectors Douglas MacKinnon, Northern Resolution Group, LLC, Enhanced Acquisitions, LLC, Delray Capital, LLC, and Mark Gray, all based in Buffalo, N.Y.