RSSJP Morgan fined for account screening failures
The Columbus, Ohio-based bank was fined $4.6 million by the Consumer Financial Protection Bureau for alleged failures related to information it provides for checking account screening reports.
Category Archives: News
Congress moves to overturn CFPB arbitration rule
The U.S. House of Representatives has passed a bill that would scrap the CFPB’s arbitration rule while the Senate took up a similar measure expected to come to a vote next month.
Companies warned off excessive pay-by-phone fees
Financial services companies were cautioned against misleading consumers about some pay-by-phone fees by the Consumer Financial Protection Bureau.
Small firm prevails over CFPB in court
A small, family run real estate law firm in Kentucky last week prevailed in a lawsuit filed by the Consumer Financial Protection Bureau.
Enforcement actions drop off in second quarter
Enforcement actions fell to six in the second quarter at the Consumer Financial Protection Bureau, down from 17 in the first quarter of the year.
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.
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