RSSCFPB proposes final judgement in Prime Marketing case
The proposed order would permanently ban the company from doing business within the credit repair industry and require a $150,000 civil money penalty.
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Federal judge chastises CFPB, dismisses lawsuit
The court formally sanctioned the bureau for its conduct during the discovery process of a lawsuit, striking four counts from the CFPB’s initial suit.
American Express to issue refunds over unintentional discrimination
The Consumer Financial Protection Bureau issued a consent order against two American Express banking subsidiaries for unintentionally discriminating against consumers in Puerto Rico, the U.S. Virgin Islands, and other U.S. territories.
Operation Choke Point abandoned, but CFPB tactics remain
The Department of Justice announced last week it was formally closing Operation Choke Point, a controversial regulatory program quietly undertaken in 2011.
Aequitas fined over ‘predatory’ student lending
The Consumer Financial Protection Bureau filed a complaint against Aequitas Capital Management, Inc., over its lending to students of Corinthian Colleges. Aequitas was accused of violating the Dodd-Frank Act’s prohibition against abusive acts and practices.
Cordray’s political plans may run afoul of federal law
A national legal expert last week raised questions about the political future of Richard Cordray, director of the Consumer Financial Protection Bureau.
CFPB releases report on overdraft fees
The Consumer Financial Protection Bureau has issued a report detailing the impact of overdraft fees on American banks and credit union customers.
JP Morgan fined for account screening failures
The Columbus, Ohio-based bank was fined $4.6 million by the Consumer Financial Protection Bureau for alleged failures related to information it provides for checking account screening reports.
Congress moves to overturn CFPB arbitration rule
The U.S. House of Representatives has passed a bill that would scrap the CFPB’s arbitration rule while the Senate took up a similar measure expected to come to a vote next month.
Companies warned off excessive pay-by-phone fees
Financial services companies were cautioned against misleading consumers about some pay-by-phone fees by the Consumer Financial Protection Bureau.
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