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The Consumer Financial Protection Bureau cannot enforce Section 1071 until the Supreme Court rules on the constitutionality of the agency’s funding structure, according to a ruling from the U.S. District Court for the Eastern District of Kentucky.
Students face risks when they enter into agreements with colleges to spread the upfront cost of their tuition into a series of interest-free loan payments, according to a Sept. 14 Consumer Financial Protection Bureau report.
The Consumer Financial Protection Bureau is warning the largest tech companies about enacting restrictive tap-to-pay policies. The CFPB cited Apple’s proprietary tap-to-pay offering, which bans banks and other third-party payment apps from accessing the option on its iOS devices. The policy could reduce consumer choice and complicate efforts to create a more complete open banking system, according to the agency.
The Consumer Financial Protection Bureau reached a proposed $2.7 billion settlement with a group of corporate entities which operate the two largest credit repair companies in the country, Lexington Law and CreditRepair.com.