RSSCFPB: Open banking standards must prevent market domination
The Consumer Financial Protection Bureau will reportedly systematize requirements for open banking standards-setting organizations to ensure the requirements are fair.
Category Archives: News
CFPB: Comparison-shopping tools must be objective
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.
CFPB establishes supervisory authority over installment lender
The Consumer Financial Protection Bureau has established supervisory authority over installment lender World Acceptance.
Survey: Large banks offer worse credit card interest rates, terms
Large banks are offering consumers inferior credit card terms and interest rates compared to their small bank and credit union peers, according to a Feb. 16 Consumer Financial Protection Bureau report.
CFPB ends foreclosure scam case with $12 million settlement
The Consumer Financial Protection Bureau recently settled a foreclosure scam case by reaching a $12 million settlement with Consumer First Legal Group LLC.
CFPB proposes banning NSF fees for instantly rejected transactions
The Consumer Financial Protection Bureau is proposing banning financial institutions from charging non-sufficient funds fees for transactions declined in real-time.
CFPB, state AGs sue debt relief company
The Consumer Financial Protection Bureau and seven state attorneys general sued New York-based debt relief services company Strategic Financial Solutions for allegedly running an illegal debt-relief enterprise
CFPB cautions against faulty background check reports
The Consumer Financial Protection Bureau is cautioning credit reporting companies against sloppy credit file sharing practices and providing erroneous background check reports.
Report: Student loan holders facing long wait times, application delays
Student loan holders are reportedly facing several significant hurdles in paying off their student loans after repayments resumed in October.
CFPB: College-sponsored financial products offer higher fees
College-sponsored financial products often have higher fees and more restrictive terms and conditions compared to typical market products, according to a Consumer Financial Protection Bureau report.
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