News – Page 32 – CFPB Journal

CFPB proposes a public arbitration database

Last week, the Consumer Financial Protection Bureau issued the final version of its administrative rule concerning arbitration clauses in consumer contracts.

Treasury department recommends CFPB changes

The report comes as another voice in the debate currently roiling Washington over the bureau, with some calling for substantial reform or even abolition of the agency, and some championing it as essential.

CFPB releases state-level monthly complaint report

Complaints increased 7 percent between 2015 and 2016, totaling 291,400 last year; however, companies provided consumers with a timely response to their complaints 97 percent of the time.

CFPB critical of student loan servicers working with public servants

The Consumer Financial Protection Bureau last week released a report critical of student loan servicers who deal with borrowers who have pursued public service careers.

Bureau files complaints over credit repair claims

Four California-based credit repair companies and three individuals are the target of two complaints by the Consumer Financial Protection Bureau.

Federal court refuses to enforce CFPB CID

A federal court denied a petition to enforce a Civil Investigative Demand filed by the Consumer Financial Protection Bureau against a company that purchases structured settlements and annuities.

CFPB urges credit card companies to embrace zero-interest promotions

Credit card companies should be more “transparent” with consumers about promotional interest rates, the Consumer Financial Protection Bureau said.

CFPB fines another mortgage lender for UDAAP violations

The Consumer Financial Protection Bureau took action against Fay Servicing, a mortgage servicer, for violations of the Dodd-Frank Act’s prohibition on unfair, deceptive and abusive acts or practices.

Monthly snapshot highlights elder complaints

Reverse mortgages, financial scams and deferred interest credit cards topped the list of complaints by senior citizens, according to the latest monthly snapshot from the Consumer Financial Protection Bureau.

CFPB moves to regulate small business loans

This marks the bureau’s first foray into regulating small business loans, and the announcement raises many questions for lenders that deal with small business.