RSSCFPB bans arbitration agreements
The CFPB announced that it would use its authority under the Dodd-Frank Act to prohibit the use of mandatory arbitration clauses in contracts, alleging that these clauses “deny customers their day in court.”
Category Archives: News
CFPB takes action against debt collection mill
The Consumer Financial Protection Bureau entered into a consent order with a debt collection organization over questionable lawsuits.
Judge denies CFPB’s authority over accreditors
A federal judge struck a blow to the Consumer Financial Protection Bureau’s recent foray into college accreditation, ruling that the bureau lacks the authority to investigate how accreditors approve for-profit colleges.
Federal Court pummels CFPB in hearing
On April 12, the Consumer Financial Protection Bureau was in federal court defending its governance structure against a lawsuit filed by PHH Mortgage pursuant to a penalty levied by the Bureau last year. If the initial interrogatories and oral arguments are any indication, the CFPB may face a significant restructuring.
CFPB sitting on $300 million in relief fund
The Consumer Financial Protection Bureau has amassed more than $300 million in its consumer relief fund, according to a budget report issued by the Bureau in February.
Report claims CFPB regulation costing banks millions
Independent mortgage banks are starting to feel the sting from new mortgage rules implemented by the Consumer Financial Protection Bureau.
Student loan servicers draw CFPB attention
The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declares bankruptcy or dies.
CFPB expands rural and underserved exemption for small banks
The Consumer Financial Protection Bureau issued an interim final rule on March 22 which will broaden special provisions for small creditors that operate in rural or underserved areas.
Some questions for the CFPB in House hearing
CFPB Director Richard Cordray sat down in front of the House Financial Services Committee for a hearing last week, delivering the bureau’s semi-annual report and taking questions.
CFPB shutters student debt relief company
The Consumer Financial Protection Bureau has asked a federal district court to enter a final judgment and order that would shut down a student debt relief company.
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