News – Page 34 – CFPB Journal

Court dismisses CFPB UDAAP lawsuit

A federal judge in North Dakota has dismissed an action by the Consumer Financial Protection Bureau against a third-party payment processor.

Experian fined $3 million over credit score marketing

The Costa Mesa, Calif., company told consumers the credit scores it marketed and provided were used by lenders to make credit decisions; lenders did not use those same Experian scores to make such decisions, the bureau said.

Former CFPB attorney alleges politics, publicity drive bureau

Ronald Rubin, a former enforcement attorney for the Consumer Financial Protection Bureau, has weighed in on the controversy swirling around the bureau.

CFPB slaps Nationstar with $1.75 million fine

This week, the Consumer Financial Protection Bureau entered into a consent order with Nationstar Mortgage that will require the lender to pay $1.75 million over HMDA violations.

Most Americans don’t know what the CFPB is

Four-fifths of Americans are so unfamiliar with the Consumer Financial Protection Bureau they don’t have an opinion on it, according to a survey from CreditCards.com.

Federal judge reaffirms doubts about CFPB’s constitutionality

Brett Kavanaugh, the judge who issued a ruling in October declaring the CFPB’s structure unconstitutional, reiterated his doubts about the agency’s legitimacy in a recent dissent.

CFPB seeks $107 million in bankruptcy claim

The bureau asked for the payment as part of a final judgment against Orion Processing LLC, a bankrupt company embroiled in an alleged debt-relief scheme that cost consumers millions in what the bureau called “exorbitant, illegal upfront fees.”

Credit reporting issues highlighted

Complaints about credit reports and from consumers in Louisiana were spotlighted in the latest monthly snapshot from the Consumer Financial Protection Bureau.

CFPB launches inquiry into services for credit invisible

The Consumer Financial Protection Bureau has launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score.

Cordray allegedly in illegal contact with Democratic operative

Richard Cordray, director of the Consumer Financial Protection Bureau, allegedly used private communication equipment to hide his contact with high-level operatives in the Democratic party during the election season.