US Chamber of Commerce critical of CFPB

On February 12, the U.S. Chamber of Commerce sent a letter to CFPB Director Richard Cordray outlining three specific areas in which the Chamber is “seriously concerned that the bureau is not working toward clear, evenly applied, economically sound standards.”

CFBP orders Ally Bank to pay $98 million in auto finance penalty

The Consumer Financial Protection Bureau, in conjunction with the Department of Justice, recently issued an order to Ally Financial, Inc., and Ally Bank to pay $80 million in damages to auto loan consumers who were harmed by discriminatory policies on auto loan applications.

Bipartisan organization urges CFPB improvements

The Bipartisan Policy Center released a comprehensive study of the Consumer Financial Protection Bureau. While praising some aspects of the CFPB’s first two years, the report expressed concerns about transparency at the federal agency.

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