RSSMost Americans don’t know what the CFPB is
Four-fifths of Americans are so unfamiliar with the Consumer Financial Protection Bureau they don’t have an opinion on it, according to a survey from CreditCards.com.
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Federal judge reaffirms doubts about CFPB’s constitutionality
Brett Kavanaugh, the judge who issued a ruling in October declaring the CFPB’s structure unconstitutional, reiterated his doubts about the agency’s legitimacy in a recent dissent.
CFPB seeks $107 million in bankruptcy claim
The bureau asked for the payment as part of a final judgment against Orion Processing LLC, a bankrupt company embroiled in an alleged debt-relief scheme that cost consumers millions in what the bureau called “exorbitant, illegal upfront fees.”
Credit reporting issues highlighted
Complaints about credit reports and from consumers in Louisiana were spotlighted in the latest monthly snapshot from the Consumer Financial Protection Bureau.
CFPB launches inquiry into services for credit invisible
The Consumer Financial Protection Bureau has launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score.
Cordray allegedly in illegal contact with Democratic operative
Richard Cordray, director of the Consumer Financial Protection Bureau, allegedly used private communication equipment to hide his contact with high-level operatives in the Democratic party during the election season.
CFPB files overdraft service lawsuit against TCF Bank
The tactics used by TCF Bank, for which the Consumer Financial Protection Bureau filed a lawsuit against the company, are no different than the methods employed by insurance salesmen, and the bureau will be hard pressed to prove consumers didn’t understand what they were signing up for, argues Publisher Tom Bengtson.
Mortgage complaints highlighted
Mortgage servicing and misapplied funds are major sources of consumer complaint, according to the latest monthly complaint snapshot from the Consumer Financial Protection Bureau.
CFPB fines mortgage lender for kickbacks
The Consumer Financial Protection Bureau fined Prospect Mortgage $3.5 million for improper mortgage referrals, in what the regulator calls a “kickback” scheme.
CFPB expands scope of UDAAP
The Consumer Financial Protection Bureau targeted MasterCard and UniRush, a prepaid card issuer, over a technical glitch with a platform migration that left some consumers unable to access funds in a timely manner.
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