Mara Gawarecki – Page 16

CFPB poised to issue payday lending rule

The Consumer Financial Protection Bureau is in the late stages of formulating rules for payday lenders, according to remarks made by CFPB Director Richard Cordray at a field hearing in Nashville, Tenn.

Report strengthens CFPB debt collection focus

Consumers are being “hounded” by debt collectors, according to a report by the Consumer Financial Protection Bureau.

Credit reporting remains a priority for the CFPB

Oversight of credit reporting companies remains a priority for the Consumer Financial Protection Bureau.

CFPB targets for-profit college

The Consumer Financial Protection Bureau has filed a lawsuit against ITT Educational Services, Inc., accusing the for-profit college of predatory student lending.

CFPB wants lenders to disclose more mortgage data

The Consumer Financial Protection Bureau wants to expand its collection of residential mortgage data.

CFPB wants to supervise nonbank money transfer providers

Under a proposed rule, certain nonbank international money transfer providers would be subject to supervisory oversight from the Consumer Financial Protection Bureau.

Missouri lender fined for mortgage kickbacks

Fidelity Mortgage Corporation of St. Louis and its former owner and current president Mark Figert have been ordered by the Consumer Financial Protection Bureau to pay $81,076 for illegal kickbacks.

CFPB files its first online lending lawsuit

The Consumer Financial Protection Bureau recently filed its first lawsuit against an online lender, CashCall, Inc., as well as CashCall’s owner, subsidiary and affiliate.

CFPB orders GE CareCredit to refund $34.1 million

The Consumer Financial Protection Bureau ordered GE Capital Retail Bank and its subsidiary, CareCredit, to refund $34.1 million to approximately 1.2 million customers of a deferred-interest healthcare credit card.

Operations and IT expenses top list of compliance costs.

Banks spend more on operations and information technology than human resources, compliance or legal expenses, according to a report released by the Consumer Financial Protection Bureau.