News – Page 15 – CFPB Journal

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.

Refinance boom drives mortgage spike, CFPB report finds

The total number of closed-end originations as well as applications increased substantially between 2019 and 2020, according to a report from the Consumer Financial Protection Bureau.

CFPB settles with debt collector

The Consumer Financial Protection Bureau has filed a proposed settlement, including an $850,000 civil money penalty, to resolve a lawsuit against a debt collection company and its owner.