CFPB

CFPB
CFPB Fines Bank of America Over Mortgage Lending Data Submissions
November 28, 2023

The Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay $12 million for submitting incomplete mortgage lending data to the federal government. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...

CFPB
CFPB Orders Prehired to Pay $30 Million, Cease Operations
November 20, 2023

The Consumer Financial Protection Bureau (CFPB), in collaboration with 11 states, has announced an enforcement action against Prehired, a Delaware-based company that has filed for bankruptcy and ceased operations. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...

CFPB
CFPB Fines Toyota Motor Credit $60 Million for Illegal Practices
November 20, 2023

The Consumer Financial Protection Bureau (CFPB) ordered Toyota Motor Credit to pay a $60 million fine for engaging in illegal lending practices and credit reporting misconduct. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...

CFPB
CFPB: Medical Bills Account for 15% of Consumer Complaints
November 16, 2023

American consumers are routinely hounded over medical bills they don’t even owe. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...

CFPB
CFPB Bans Enova From Offering Certain Consumer Loans
November 15, 2023

The Consumer Financial Protection Bureau (CFPB) has ordered online lender Enova International to pay a $15 million penalty, banned it from offering certain consumer loans and required it to tie executive compensation to its compliance with federal consumer financial protection laws. Get the Full Story...

CFPB
CFPB’s New Open Banking Rule Targets Data-Sharing Consistency
October 19, 2023

The Consumer Financial Protection Bureau’s open banking rule is a rough draft. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...

CFPB
Chime Inc. Faces CFPB Action for Alleged Deceptive Practices on Sendwave App
October 17, 2023

The Consumer Financial Protection Bureau (CFPB) has taken action against Chime Inc., the operator of the Sendwave mobile app, for deceiving consumers about the speed and cost of remittance transfers. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...

CFPB
TransUnion Faces Allegations of Violations of Fair Credit Reporting Act
October 12, 2023

The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have taken enforcement actions against consumer reporting company TransUnion, alleging multiple violations of the Fair Credit Reporting Act. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...

CFPB
CFPB Says Surprise Overdraft and NSF Fees Lead to $120 Million in Refunds
October 11, 2023

Surprise overdraft and nonsufficient funds (NSF) fees account for a significant portion of the refunds to consumers by companies announced Wednesday (Oct. 11) by the Consumer Financial Protection Bureau (CFPB).  Get the Full Story Complete the form to unlock this article and enjoy unlimited free...