Article Archives – Page 60

Financial Services Roundtable objects to CFPB complaint portal

The Financial Services Roundtable has accused the Consumer Financial Protection Bureau of possibly spreading inaccurate information through its consumer complaint database.

Digital currency comes under CFPB scrutiny

Digital currencies may be up for regulation from the Consumer Financial Protection Bureau. The CFPB issued a consumer advisory on virtual currencies and announced that it will begin taking complaints on the currencies.

CFPB looks further into big bank overdraft products

The CFPB’s goal is not to remove overdraft protection from banks’ product menu. That was CFPB Director Richard Cordray’s message after the bureau’s released a new study on overdraft on July 31.

Payday lender fined $10 million by CFPB

Payday Lender Ace Cash Express has been ordered by the Consumer Financial Protection Bureau to pay $10 million in restitution and penalties for deceptive debt-collection practices.

Proposed HMDA rule would expand data collection

The Consumer Financial Protection Bureau has issue a proposed rule expanding the collection of information required under the Home Mortgage Disclosure Act.

CFPB will take complaints on nonbank products

The Consumer Financial Protection Bureau will now begin accepting consumer complaints about prepaid cards and other nonbank products, the bureau announced earlier this week.

CFPB to expand online complaint database

The Wall Street Journal reports that the Consumer Financial Protection Bureau has proposed expanding its online complaint system to capture more detailed narrative information from consumers

CFPB pulls back on plan to control consumer complaint data

Before July 14, the Consumer Financial Protection Bureau was working to get banking industry feedback on a contract to govern banks’ use of consumer complaint data.

CFPB warns against misuse of ‘mini-correspondent’ label

The Consumer Financial Protection Bureau has issued guidance warning mortgage brokers against the misuse of the “mini-correspondent” lender identification.

ABA objects to proposed CFPB arbitration study

The American Bankers Association joined two other trade groups in urging the Office of Management and Budget not to approve a survey on credit card arbitration agreements proposed by the CFPB.