News – CFPB Journal

New report explores trends for first-time homebuyers

First-time homebuyers have consistently accounted for about half of all home purchase mortgages since 2002, according to a new report from the Consumer Financial Protection Bureau.

CFPB wants to pay whistleblowers

The Consumer Financial Protection Bureau is working on legislation to authorize payments to whistleblowers who report violations of Federal consumer financial law.

Fifth Third likely to be hit with suit over fake accounts

Cincinnati’s Fifth Third Bancorp is facing potential action from the Consumer Financial Protection Bureau over allegations it opened unauthorized accounts, according to Bloomberg Law.

CFPB, two states file suit against credit-offer brokers

The Consumer Financial Protection Bureau filed a lawsuit in federal district court in the District of South Carolina against Candy Kern-Fuller, Howard Sutter III, and Upstate Law Group LLC.

Report: CUs edge out banks in post-recession small business lending

While small business lending as a whole has increased since the Great Recession, fewer banks and thrifts are engaged in the market, according to a recent report from the Consumer Financial Protection Bureau.

CFPB settles Think Finance lawsuit

The Consumer Financial Protection Bureau proposed settlement with Think Finance, LLC, formerly known as Think Finance, Inc., and six subsidiaries which would resolve a 2017 lawsuit.

CFPB, Education Department strike pact to help student borrowers

The Consumer Financial Protection Bureau and the U.S. Department of Education announced a new coordination agreement in order to better serve student loan borrowers.

CFPB adds member to consumer law taskforce

William MacLeod, a partner at Kelley Drye & Warren, LLP, will join the previously announced slate of members of the taskforce on federal consumer financial law at the Consumer Financial Protection Bureau.

Student loan debt relief companies sued

The Consumer Financial Protection Bureau filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and engaging in deceptive conduct.

College credit card market on the decline, CFPB report shows

Marketing credit cards to college students is on the decline, according to a recent report from the Consumer Financial Protection Bureau.