RSSOCC fact-checks CFPB arbitration claims
The Office of the Comptroller of the Currency has released a report challenging the Consumer Financial Protection Bureau’s interpretation of an arbitration study.
Category Archives: News
More than a third of Americans struggle financially
Forty percent of U.S. adults struggle to make ends meet, according to a survey from the Consumer Financial Protection Bureau.
CFPB sues broker over victim compensation funds
The Consumer Financial Protection Bureau filed an enforcement action this week against Top Notch Funding, a New Jersey-based loan broker that targeted its offers at consumers who were awaiting payment from settlements in legal cases or from victim-compensation funds.
CFPB issues consent order against aggregator
Last week, the Consumer Financial Protection Bureau entered into a consent order with a lead aggregation company, Zero Parallel, and its CEO.
CPFB issues first no-action letter
Upstart Network has received the first no-action letter from the Consumer Financial Protection Bureau for its use of alternative data in credit and pricing decisions.
Department of Education rebukes CFPB ‘abuse’ in memo
The Department of Education recently delivered a letter to the Consumer Financial Protection Bureau providing notice of its intent to terminate two Obama-era Memoranda of Understanding between the agencies.
CFPB proposes final judgement in Prime Marketing case
The proposed order would permanently ban the company from doing business within the credit repair industry and require a $150,000 civil money penalty.
Federal judge chastises CFPB, dismisses lawsuit
The court formally sanctioned the bureau for its conduct during the discovery process of a lawsuit, striking four counts from the CFPB’s initial suit.
American Express to issue refunds over unintentional discrimination
The Consumer Financial Protection Bureau issued a consent order against two American Express banking subsidiaries for unintentionally discriminating against consumers in Puerto Rico, the U.S. Virgin Islands, and other U.S. territories.
Operation Choke Point abandoned, but CFPB tactics remain
The Department of Justice announced last week it was formally closing Operation Choke Point, a controversial regulatory program quietly undertaken in 2011.
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