News – CFPB Journal

CFPB, Synapse reach settlement in lawsuit

The Consumer Financial Protection Bureau has reached a proposed settlement with Synapse Financial Technologies for allegedly failing to keep adequate records of the location of consumers’ funds.

CFPB reaches settlement with pawn shop company

The Consumer Financial Protection Bureau recently reached a $9 million settlement in its 2021 lawsuit against pawn shop company FirstCash, Inc.

CFPB terminates consent order against Navy Federal Credit Union

The Consumer Financial Protection Bureau recently terminated its consent order against Navy Federal Credit Union and waived any non-compliance allegations against the company.

CFPB to stop using civil penalty funds to finance education programs

The Consumer Financial Protection Bureau plans to stop using civil penalty funds to finance consumer education and financial literacy programs, according to a proposal published June 18.

Horowitz selected to lead CFPB IG office

Longtime attorney and government official Michael Horowitz was appointed to lead the Office of Inspector General for both the Consumer Financial Protection Bureau and Federal Reserve.

CFPB to rescind BNPL rule

The Consumer Financial Protection Bureau plans to rescind its rule treating ‘buy now, pay later’ providers as credit card issuers.

CFPB won’t enforce Section 1071

The Consumer Financial Protection Bureau is not planning to enforce Section 1071, the bureau announced on May 1.

CFPB planning changes to Section 1071

The Consumer Financial Protection Bureau plans to soon propose replacing or changing Section 1071.

CFPB vacates judgment against Townstone Financial

The Consumer Financial Protection Bureau recently vacated its $105,000 settlement with Townstone Financial and ordered the company to be refunded after finding the bureau had engaged in misconduct by targeting the mortgage lender’s free speech protections.

Bill introduced to overturn CFPB medical debt rule

A bill introduced last week by Sen. Mike Rounds (R-S.D.) would overturn the Consumer Financial Protection Bureau rule banning medical debt and medical bills from credit reports.