Second court issues temporary injunction against Section 1071

The Consumer Financial Protection Bureau cannot enforce Section 1071 until the Supreme Court rules on the constitutionality of the agency’s funding structure, according to a ruling from the U.S. District Court for the Eastern District of Kentucky.

CFPB warns Apple over tap-to-pay restrictions

The Consumer Financial Protection Bureau is warning the largest tech companies about enacting restrictive tap-to-pay policies. The CFPB cited Apple’s proprietary tap-to-pay offering, which bans banks and other third-party payment apps from accessing the option on its iOS devices. The policy could reduce consumer choice and complicate efforts to create a more complete open banking system, according to the agency.

Mortgage company fined $1.75 million in kickback case

The Consumer Financial Protection Bureau fined Boca Raton, Fla.-based mortgage loan servicer and originator Freedom Mortgage $1.75 million for providing illegal incentives to real estate agents and brokers in exchange for mortgage loan referrals. 

CFPB: Employer-driven debt harms workers

Employer-driven debt is keeping employees from leaving for better-paying positions and leaving them beholden to a separate lender, according to a recent Consumer Financial Protection Bureau report.

CFPB sues USASF Servicing for numerous violations

The Consumer Financial Protection Bureau filed a federal lawsuit alleging that auto loan company USASF Servicing incorrectly disabled at least 7,500 vehicles and failed to return millions of dollars in customer refunds. 

CFPB: Consumer lenders violated numerous lending standards

Payday, auto and medical loan collectors have engaged in numerous unfair, deceptive and abusive practices during a recent eight-month stretch, according to a Consumer Financial Protection Bureau supervisory highlights report released July 26.

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