RSSCFPB highlights banking challenges of rural America
The Consumer Financial Protection Bureau wants to focus on banking issues facing rural Americans, it said after releasing a report on the topic.
Category Archives: News
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.
Users racked up $12 billion in 2020 credit card late fees
As the Consumer Financial Protection Bureau continues to pursue its proposed crackdown on “junk fees,” the agency released a report detailing the state of credit late fees, including the $12 billion consumers racked up last year.
Companies can’t delete negative reviews, CFPB says
The Consumer Financial Protection Bureau has issued a compliance bulletin on how companies can interact with consumer reviews, especially negative ones.
CFPB moves to curb ‘improper’ car repossessions
As the secondary auto market continues its brisk pace, the Consumer Financial Protection Bureau issued a compliance bulletin to help prevent “improper” repossessions.
CFPB adds medical billing to focus areas
The Consumer Financial Protection Bureau has issued a report drawing attention to consumer financial issues in medical billing, marking it as the latest area of focus for the agency.
Prepaid cards cannot be sole means of issuing benefits, CFPB says
The CFPB issued a compliance bulletin today outlining the existing prohibitions against prepaid cards being the sole method for distributing government benefits.
CFPB reminds appraisers of anti-discrimination requirements
The Consumer Financial Protection Bureau wants The Appraisal Foundation, which sets standards for appraisers, to include “clear warnings” about federal anti-discrimination requirements in its standards and training for appraisers.
CFPB eyes ‘criminal justice financial ecosystem’
The criminal justice system features “an ecosystem rife with burdensome fees and lack of choice,” according to a recent report from the Consumer Financial Protection Bureau.
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