CFPB to examine nonbanks posing customer risk

The Consumer Financial Protection Bureau announced April 25 that it will conduct supervisory examinations of nonbank financial companies that pose risks to consumers, using an obscure legal provision. 

CFPB files suit against TransUnion, executive

The Consumer Financial Protection Bureau is filing a lawsuit against TransUnion, two of its subsidiaries, and recently departed executive John Danaher for violating a 2017 bureau order over deceptive marketing regarding its credit scores and other credit-related products.

CFPB fines student loan servicer

The Consumer Financial Protection Bureau is fining Edfinancial Services, a student-loan servicer, $1 million for making deceptive statements to student loan borrowers and misrepresenting forgiveness and repayment options to them. The company deceived borrowers with Federal Family Education Loan Program loans about their eligibility for Public Service Loan Forgiveness, the bureau said.

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