RSSBiden nominates Chopra to head CFPB
President-elect Joe Biden announced numerous appointments on Monday, including Rohit Chopra to be the director of the Consumer Financial Protection Bureau.
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Taskforce on consumer financial law releases report
The Consumer Financial Protection Bureau taskforce on federal consumer financial law released a report last week with recommendations on how to improve consumer protection in the financial marketplace.
CFPB settles with Omni Financial
The Consumer Financial Protection Bureau issued a consent order against Omni Financial of Nevada, Inc., last week requiring the company to pay a $2.175 million civil money penalty.
CFPB names deputy chief of staff, AD for innovation
The Consumer Financial Protection Bureau has named Jocelyn Sutton as deputy chief of staff and Ann Epstein as assistant director of the office of innovation.
Small business feedback on data collection largely positive
Early feedback indicates small businesses generally support measures to implement Dodd-Frank Act Section 1071, which governs the collection and reporting of small business lending data.
Nationstar settles over servicing practices
The Consumer Financial Protection Bureau filed a complaint and proposed stipulated judgment and order this week against Nationstar Mortgage. The company violated multiple Federal consumer financial laws, causing “substantial harm” to the borrowers whose mortgage loans it serviced, the bureau said.
CFPB sues debt settlement company
The Consumer Financial Protection Bureau filed a lawsuit against DMB Financial over alleged violations of the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010.
CFPB settles with Illinois debt collector
The Consumer Financial Protection Bureau settled with Afni, Inc., last week to address violations in providing information to consumer reporting agencies.
CFPB issues no-action letter to Bank of America
The Consumer Financial Protection Bureau has issued a no-action letter to Bank of America, N.A., for a proposed small-dollar credit product.
CFPB changes disclosure of records and debt collection rules
The Consumer Financial Protection Bureau finalized changes to its regulations regarding the disclosure of records and information. It also published a portion of its long-awaited Fair Debt Collection Practices Act rulemaking to modernize and clarify rules around third-party debt collection.
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