Mara Gawarecki – Page 9

OCC fact-checks CFPB arbitration claims

The Office of the Comptroller of the Currency has released a report challenging the Consumer Financial Protection Bureau’s interpretation of an arbitration study.

More than a third of Americans struggle financially

Forty percent of U.S. adults struggle to make ends meet, according to a survey from the Consumer Financial Protection Bureau.

CPFB issues first no-action letter

Upstart Network has received the first no-action letter from the Consumer Financial Protection Bureau for its use of alternative data in credit and pricing decisions.

CFPB proposes final judgement in Prime Marketing case

The proposed order would permanently ban the company from doing business within the credit repair industry and require a $150,000 civil money penalty.

American Express to issue refunds over unintentional discrimination

The Consumer Financial Protection Bureau issued a consent order against two American Express banking subsidiaries for unintentionally discriminating against consumers in Puerto Rico, the U.S. Virgin Islands, and other U.S. territories.

JP Morgan fined for account screening failures

The Columbus, Ohio-based bank was fined $4.6 million by the Consumer Financial Protection Bureau for alleged failures related to information it provides for checking account screening reports.

Congress moves to overturn CFPB arbitration rule

The U.S. House of Representatives has passed a bill that would scrap the CFPB’s arbitration rule while the Senate took up a similar measure expected to come to a vote next month.

Companies warned off excessive pay-by-phone fees

Financial services companies were cautioned against misleading consumers about some pay-by-phone fees by the Consumer Financial Protection Bureau.

Enforcement actions drop off in second quarter

Enforcement actions fell to six in the second quarter at the Consumer Financial Protection Bureau, down from 17 in the first quarter of the year.

CFPB raises mortgage data reporting threshold

The proposed temporary increase in the HMDA reporting threshold for HELOCs would apply to institutions who make 500 or fewer such loans in the previous two years, compared to the current threshold of 100 such loans.