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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.
The proposed order would permanently ban the company from doing business within the credit repair industry and require a $150,000 civil money penalty.
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.
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.
The Department of Justice announced last week it was formally closing Operation Choke Point, a controversial regulatory program quietly undertaken in 2011.
The Consumer Financial Protection Bureau filed a complaint against Aequitas Capital Management, Inc., over its lending to students of Corinthian Colleges. Aequitas was accused of violating the Dodd-Frank Act’s prohibition against abusive acts and practices.
A national legal expert last week raised questions about the political future of Richard Cordray, director of the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau has issued a report detailing the impact of overdraft fees on American banks and credit union customers.
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.
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.