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The Consumer Financial Protection Bureau recently confirmed it intends to treat ‘buy now, pay later’ lenders as credit card providers by issuing an interpretive rule under which they must provide similar legal provisions.
The Consumer Financial Protection Bureau recently filed a $5 million lawsuit against student loan servicers National Collegiate Student Loan Trusts and American Education Services for allegedly ignoring thousands of payment relief requests over six years.
Consumers often pay more for products with more complex pricing structures, according to an April 30 Consumer Financial Protection Bureau report.
Mortgage servicers charged homeowners illegal “junk fees” and engaged in other illegal practices, according to a supervisory highlights report from the Consumer Financial Protection Bureau.
The CFPB fined San Francisco-based for-profit coding vocational school BloomTech and its CEO Austen Allred $164,000 for allegedly deceiving students about loan costs and making false claims about graduates’ hiring rates.
The Consumer Financial Protection Bureau plans to hire more technologists to continue researching emerging technologies, said Director Rohit Chopra and Chief Technologist Erie Meyer in a March 26 report.
Falsely advertising the speed or cost of sending remittance transfers can violate federal law, according to a March 27 circular from the Consumer Financial Protection Bureau.
An appellate court disallowed the relocation of a lawsuit challenging the Consumer Financial Protection Bureau’s late fee rule to Washington, D.C.
The Consumer Financial Protection Bureau will reportedly systematize requirements for open banking standards-setting organizations to ensure the requirements are fair.
Companies operating comparison-shopping tools can violate the law by sending consumers to certain products or lenders because of kickbacks, according to a Feb. 29 Consumer Financial Protection Bureau circular to law enforcement agencies and regulators.