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The Consumer Financial Protection Bureau launched an inquiry into practices and financial products it believes could lead employees indebted to their employers. The agency wants to know if consumers have a “meaningful choice” in accepting employer-driven debt products.
The Consumer Financial Protection Bureau is opening an Office of Innovation and Competition, replacing its previous Office of Innovation as well as Project Catalyst.
Even if their credit models rely on complex algorithms, anti-discrimination law requires companies to explain the specific reasons for denying an application for credit or taking other adverse actions, the Consumer Financial Bureau said in a circular.
The Consumer Financial Protection Bureau has issued an interpretive rule outlining the role of state-level authorities in enforcing federal consumer financial protection laws.
The Consumer Financial Protection Bureau issued an enforcement action against debt-relief payment-processors RAM Payment and Account Management Systems for issuing illegal advance fees and failing to return funds to consumers when required to.
The Consumer Financial Protection Bureau issued an enforcement action against Bank of America for processing out-of-state garnishment orders against its customers’ bank accounts, fining the North Carolina bank $10 million.
The Consumer Financial Protection Bureau is seeking a ban against a California debt company CEO over accusations of wrongful fee-charging practices and deceptive telemarketing.
The Consumer Financial Protection Bureau announced April 25 that it will conduct supervisory examinations of nonbank financial companies that pose risks to consumers, using an obscure legal provision.
The Consumer Financial Protection Bureau wants to focus on banking issues facing rural Americans, it said after releasing a report on the topic.
The Consumer Financial Protection Bureau is filing a lawsuit against TransUnion, two of its subsidiaries, and recently departed executive John Danaher for violating a 2017 bureau order over deceptive marketing regarding its credit scores and other credit-related products.