RSSCFPB planning changes to Section 1071
The Consumer Financial Protection Bureau plans to soon propose replacing or changing Section 1071.
Category Archives: News
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.
CFPB given more time to settle card late fee lawsuit
Federal Judge Mark Pittman earlier this week granted the Consumer Financial Protection Bureau’s request for a 30-day pause in a lawsuit challenging its legal authority to cap most credit card late fees at $8.
CFPB dismisses several lawsuits
The Consumer Financial Protection Bureau voluntarily dropped enforcement actions this week against Capital One and Rocket Homes. The bureau also dropped lawsuits it had filed against Vanderbilt Mortgage and Finance, and others.
Acting CFPB director sets up tip line to report employee work
Acting Consumer Financial Protection Bureau Russ Vought recently opened a tip line on X for banks and other businesses to report CFPB staff for undertaking regulatory or enforcement work despite being called to cease activity.
CFPB: Late payments fell from ’21-’24
Late rental payments fell from 2021-24, even as rental balances and fees increased, according to a recent report from the Consumer Financial Protection Bureau.
Report: Auto repossessions rate higher than before pandemic
The rate of auto repossessions was higher at the end of 2022 than before the pandemic, according to a Consumer Financial Protection Bureau report.
CFPB fines Block $175 million for Cash App fraud
The Consumer Financial Protection Bureau fined fintech Block $175 million after finding it allowed fraud to multiply on its financial services platform Cash App.
CFPB looks to increase privacy protections on large tech platforms
The Consumer Financial Protection Bureau announced two measures last week to provide privacy protections on large technology platforms.
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