The Consumer Financial Protection Bureau (CFPB) sued Capital One Tuesday (Jan. 14), alleging that the bank promoted one savings account as offering one of the nation’s “highest” interest rates at the same time it offered another one that paid out rates that were as much...
The Consumer Financial Protection Bureau (CFPB) said Monday (Jan. 13) that it aims to stop financial companies from using fine print in contracts that results in customers waiving their legal rights or free speech. The regulator said this in a Monday press release announcing a proposed...
The Consumer Financial Protection Bureau (CFPB) is seeking public comment on how existing laws apply to emerging consumer payment mechanisms offered through tech companies and video gaming platforms as well as to stablecoins and other digital currencies. “When people pay for their family expenses using...
The news this week that the Consumer Financial Protection Bureau (CFPB) has recognized Financial Data Exchange (FDX) as a standard-setting body — to help determine how permissioned financial data will be shared during the rise of open banking — illuminates the long and winding road ahead....
The Consumer Financial Protection Bureau has been busy — with the latest salvo of (possible) rulemaking looming for buy now, pay later (BNPL) loans, earned wage access and other financial products. The CFPB sent a letter detailing the move to the Consumer Bankers Association and...
The Consumer Financial Protection Bureau (CFPB) sued consumer reporting agency Experian on Tuesday (Jan. 7), alleging that the company unlawfully failed to properly investigate consumer disputes and included incorrect information on credit reports. In its complaint, the CFPB alleges that the company’s practices violated Fair...
The Consumer Financial Protection Bureau sued nonbank financing company Vanderbilt Mortgage & Finance Monday (Jan. 6), saying the company made loans to consumers despite evidence that they could not afford those loans. Vanderbilt Mortgage is a unit of manufactured home builder Clayton Homes, which is...
The Consumer Financial Protection Bureau (CFPB) is working to prevent unlawful debt collection targeting consumers at their workplace. The regulator said in a Thursday (Jan. 2) blog post that it continues to crack down on companies that harass consumers, pointing to actions it took in...
Rocket Homes said Monday (Dec. 23) that it “will not rest” until it sees the dismissal of Consumer Financial Protection Bureau (CFPB) allegations that were announced Monday. The CFPB sued Rocket Homes, Jason Mitchell and Mitchell’s real estate brokerage firm, which does business as the Jason Mitchell Group,...
