The head of the country’s consumer financial enforcement agency is closing out its first year at the helm showing banks, FinTechs, lenders, mortgage brokers and debt collectors the world according to Rohit Chopra. Director of the Consumer Financial Protection Bureau (CFPB) since Sept. 30, 2021, Chopra...
The Consumer Finance Protection Bureau (CFPB) has sued online lender MoneyLion, along with 38 of its subsidiaries, over allegedly imposing illegal charges for service members and dependents, a report from ConsumerFinance.gov said. According to the CFPB, MoneyLion violated the Military Lending Act by charging more...
Charging customers with surprise overdraft fees will cost Regions Bank a total of $191 million in customer redress plus a civil monetary penalty paid to the victims relief fund of the Consumer Financial Protection Bureau (CFPB). From August 2018 through July 2021, the CFPB said,...
The U.S. Chamber of Commerce has joined several business organizations in suing the Consumer Financial Protection Bureau (CFPB), saying the agency is overstepping its bounds in new rules that deal with discrimination in banking. According to a chamber news release Wednesday (Aug. 28), the suit...
Speaking at a virtual event for the anniversary of a watchdog group, the Consumer Financial Protection Bureau (CFPB) boss took the opportunity to address a letter sent to the agency from Republican members of the Senate Banking Committee. “We’re going to keep doing our work,...
Family and friends signing admission agreements with residential nursing care facilities cannot be held liable for unpaid debts associated with a patient’s stay, according to laws in place that forbid the practice. Families have been sued by nursing home debt collectors, had their wages garnished,...
A Block spokesperson told PYMNTS Friday (Aug. 19) that the company is “disappointed” that the Consumer Financial Protection Bureau (CFPB) has filed a petition for a federal judge to force it to comply with the bureau’s investigation into Block’s Cash App tool. The CFPB said...
Saying financial companies that fail to safeguard consumer data may be violating federal law, the Consumer Financial Protection Bureau (CFPB) has published guidance on the matter to other enforcement agencies. In a press release about a CFPB circular, both of which were released Thursday (Aug....
The Consumer Financial Protection Bureau (CFPB) is warning digital marketing companies working with financial firms that they must comply with federal law. Marketers engaged in identifying prospective customers or placing content to affect consumer behavior are typically considered service providers under the law, according to...
