News – Page 28 – CFPB Journal

Santander settles with CFPB over lax disclosures

Dallas-based Santander Consumer USA has settled with the Consumer Financial Protection Bureau over allegations it used deceptive acts or practices in marketing auto loan add-ons and extensions.

CFPB to define ‘abusive’ for future UDAAP enforcement

Acting Director Mick Mulvaney indicated that the bureau’s prior enforcement on allegedly abusive practices had been controversial and that he hoped to provide more clarity for the financial services industry.

OIG offers criticism, praise of bureau information security

The Consumer Financial Protection Bureau could be better at handling its enterprise risk management, although it is adequate in other information security areas, according to an OIG report.

Bureau settles with Cash Express

The Consumer Financial Protection Bureau announced a settlement with Cash Express, LLC, a small-dollar lender that offers high-cost, short-term loans as well as check-cashing services.

CFPB releases state-by-state complaint report

Although California, Florida and Texas topped the list of complaints by volume, the District of Columbia was the per capita leader in consumer complaints, with 358 per 100,000 citizens.

Reduced CashCall fine would send the wrong message, CFPB says

A reduced fine against online lender CashCall for violating state interest rate caps would send the wrong message, according to a brief filed in a federal appeals court by the Consumer Financial Protection Bureau.

CFPB fines Fingerhut parent for delaying payments

The Consumer Financial Protection Bureau entered into a consent decree with Bluestem Brands, Bluestem Enterprises and Bluestem Sales to resolve allegations of misdeeds on the part of the company.

Democrats demand Mulvaney explain controversial employee’s hiring

A group of Senate Democrats has demanded an explanation from the acting director of the Consumer Financial Protection Bureau about the vetting process for a now-controversial employee.

Bureau wants feedback on data use

The Consumer Financial Protection Bureau is seeking industry and consumer input on its sources of data and how data is used.

Lack of internet determines credit invisibility, bureau says

An inability to access the internet rather than proximity to a bank branch is a better indicator of credit invisibility, according to a report from the Consumer Financial Protection Bureau.