News – Page 46 – CFPB Journal

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.

CFPB Fines Online Payment Network for Misrepresenting Security Practices

On March 2, 2016, the CFPB issued its first enforcement action directed at an organization’s information security practices. Dwolla, Inc., entered into a Consent Order with the CFPB which identifies “deceptive acts and practices relating to false representations” relating to the company’s data security practices in violation of UDAAP.

CFPB’s TRID rule delays closures, reduces mortgage offerings

The new TILA-RESPA Integrated Disclosure rule from the Consumer Financial Protection Bureau is delaying mortgage closures and causing banks to trim their offerings, according to a survey.

An analysis of abusive practices as understood by the CFPB

A recent report by K&L Gates highlights the conclusions that can be drawn from the CFPB’s understanding of an abusive act.

Former Ally CEO charges CFPB with shakedown

Former Ally Financial Inc., CEO Michael A. Carpenter said the CFPB abused its power by holding the bank’s business hostage in order to coerce a record settlement of “trumped-up” racism charges and push profit-killing new regulations on the entire auto-lending industry.

CFPB and FDIC signal increased expectations for banks on serving underbanked

Consumer Financial Protection Bureau Director Richard Cordray and FDIC Chair Martin Gruenberg have called on bankers to do more to serve unbanked and underbanked in the last month.

Federal Reserve Chair not real sure about the CFPB Budget

Fed Chair Janet Yellen was on Capitol Hill last week making her semiannual visit before the House Financial Services Committee. When she was asked basic information about the CFPB, Yellen appeared to lack basic knowledge of the Bureau’s budget.

Super Bowl ad criticized by CFPB

Among the many Super Bowl ads aired this past Sunday, one drew the ire of the Consumer Financial Protection Bureau.

CFPB claims exemption from statute of limitations

Last month, the Consumer Financial Protection Bureau traded briefs in federal court with Integrity Advance regarding Integrity’s motion to dismiss a CFPB enforcement action alleging violations of the Unfair, Deceptive or Abusive Acts and Practices clause of the Real Estate Settlement Procedures Act.