News – Page 14 – CFPB Journal

CFPB warns companies over name-matching

Consumer reporting companies that rely on name-matching alone to match records to an individual are violating the Fair Credit Reporting Act, the Consumer Financial Protection Bureau said.

CFPB names supervision, enforcement chiefs

The Consumer Financial Protection Bureau has named an Assistant Director for the Office of Supervision Policy and Assistant Director for the Office of Enforcement.

Trustmark to pay $5 million over redlining suit

Mississippi’s Trustmark National Bank is settling a case with the Consumer Financial Protection Bureau and the U.S. Department of Justice over redlining allegations in the Memphis area.

Report finds increase in digital adoption during pandemic

The Consumer Financial Protection Bureau recently revealed an increase in the adoption of fintech during the pandemic, according to a recent report.

California company used deceptive marketing, CFPB says

The Consumer Financial Protection Bureau filed a complaint and proposed consent order alleging that American Advisors Group used “inflated and deceptive” home estimates to get consumers into taking out reverse mortgages.

CFPB: Credit card debt fell at a record pace in 2020

Consumer credit card debt fell at an unprecedented pace last year, according to the annual Consumer Credit Card Market Report.

CFPB makes advisory board appointments

The Consumer Financial Protection Bureau has appointed new members to its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council and Academic Research Council.

CFPB sues software company

The Consumer Financial Protection Bureau filed a lawsuit accusing a California software company and its owner of providing assistance to illegal credit-repair businesses.

CFPB sues California loan company

The Consumer Financial Protection Bureau is suing LendUp Loans, LLC, for allegedly violating a 2016 consent order and committing deceptive acts against consumers.

Trade groups back bipartisan commission bill

An assortment of financial industry trade groups have thrown their support behind H.R. 4773, the Consumer Financial Protection Commission Act, which would alter the leadership structure of the Consumer Financial Protection Bureau.