Sam Wilmes – CFPB Journal

CFPB outlines revised nonbank supervision plan

The Consumer Financial Protection Bureau is proposing a new standard for supervising nonbanks.

CFPB distributing $1.8 billion to consumers from credit scheme

The Consumer Financial Protection Bureau is returning $1.8 billion in “illegal junk fees” to 4.3 million Americans impacted by a large credit repair scheme, the bureau announced Dec. 5 in a press release.

CFPB proposes stricter standards on data brokers

Data brokers selling sensitive consumer information are covered under the Fair Credit Reporting Act, according to a Dec. 3 proposed rule from the Consumer Financial Protection Bureau.

CFPB fines Navy Federal Credit Union $95 million for overdraft violations

The Consumer Financial Protection Bureau recently fined Navy Federal Credit Union $95 million for charging illegal overdraft fees.

Supreme Court: CFPB funding structure constitutional

The U.S. Supreme Court has ruled the Consumer Financial Protection Bureau is constitutionally funded.

CFPB to hire technologists, research emerging technologies

The Consumer Financial Protection Bureau plans to hire more technologists to continue researching emerging technologies, said Director Rohit Chopra and Chief Technologist Erie Meyer in a March 26 report.

CFPB warns remittance companies on deceptive claims

Falsely advertising the speed or cost of sending remittance transfers can violate federal law, according to a March 27 circular from the Consumer Financial Protection Bureau.

CFPB: Fair Credit Reporting Act proposal coming this year

The Consumer Financial Protection Bureau will propose rules this year to ensure data brokers follow the Fair Credit Reporting Act, Director Rohit Chopra said April 2.

Court keeps CFPB late fee lawsuit in Texas

An appellate court disallowed the relocation of a lawsuit challenging the Consumer Financial Protection Bureau’s late fee rule to Washington, D.C.

Chopra: AI poses safety concerns in banking

Artificial intelligence poses risks to the financial system, according to Consumer Financial Protection Bureau Director Rohit Chopra.