Sam Wilmes – CFPB Journal

CFPB withdraws Biden-era guidance on immigrants, credit

The Consumer Financial Protection Bureau and Department of Justice recently withdrew guidance warning lenders of the legal risks surrounding considering immigration status for credit.

Office of Inspector General finds weaknesses in CFPB cybersecurity approach

The Consumer Financial Protection Bureau’s method to secure its information systems has weakened in recent months amid a loss of contractors and bureau personnel, according to a recent audit by the Federal Reserve Office of Inspector General.

CFPB receives nearly 14,000 comments on open banking revamp proposal

The Consumer Financial Protection Bureau received nearly 14,000 comments on its proposed revamp of Section 1033 before the Oct. 22 public comment deadline, according to a public database.

CFPB, Synapse reach settlement in lawsuit

The Consumer Financial Protection Bureau has reached a proposed settlement with Synapse Financial Technologies for allegedly failing to keep adequate records of the location of consumers’ funds.

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.