RSSCFPB 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.
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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.
CFPB: Open banking standards must prevent market domination
The Consumer Financial Protection Bureau will reportedly systematize requirements for open banking standards-setting organizations to ensure the requirements are fair.
Trade groups sue CFPB for reducing late fee charges
The Consumer Financial Protection Bureau released a finalized rule on March 5 that caps consumer credit card fees at $8 per incident. In response, some trade groups filed a federal lawsuit two days later seeking a preliminary injunction against the rule.
CFPB: Comparison-shopping tools must be objective
Companies operating comparison-shopping tools can violate the law by sending consumers to certain products or lenders because of kickbacks, according to a Feb. 29 Consumer Financial Protection Bureau circular to law enforcement agencies and regulators.
CFPB establishes supervisory authority over installment lender
The Consumer Financial Protection Bureau has established supervisory authority over installment lender World Acceptance.
Survey: Large banks offer worse credit card interest rates, terms
Large banks are offering consumers inferior credit card terms and interest rates compared to their small bank and credit union peers, according to a Feb. 16 Consumer Financial Protection Bureau report.
CFPB ends foreclosure scam case with $12 million settlement
The Consumer Financial Protection Bureau recently settled a foreclosure scam case by reaching a $12 million settlement with Consumer First Legal Group LLC.
CFPB proposes banning NSF fees for instantly rejected transactions
The Consumer Financial Protection Bureau is proposing banning financial institutions from charging non-sufficient funds fees for transactions declined in real-time.
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