Student loan servicer Edfinancial Services lied to borrowers about their forgiveness and repayment options, the Consumer Financial Protection Bureau said Wednesday (March 30). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
Credit card companies charged $12 billion in late fees in 2020, with poorer Americans paying far more than wealthier people. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra has said the new report from the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) “underscores the critical importance of fair and accurate appraisals in residential real estate.” Get the Full Story Complete the form...
The Consumer Financial Protection Bureau (CFPB) on Tuesday (March 22) unveiled policy guidance on “potentially illegal practices related to consumer reviews,” saying it “seeks to ensure that customers can write reviews, particularly ones posted online, about financial products and services that accurately reflect their opinions...
The Consumer Financial Protection Bureau (CFPB) on Wednesday (March 16) updated its supervisory operations to “better protect families and communities from illegal discrimination, including in situations where fair lending laws may not apply,” according to a bureau press release. Get the Full Story Complete the...
The Federal Trade Commission (FTC) announced on March 15 that it filed an administrative complaint against Electronic Payment Systems for allegedly opening credit card processing merchant accounts for fictitious companies on behalf of a scammer, Money Now Funding. While the money at stake in this...
The Consumer Financial Protection Bureau (CFPB) in late February issued procedural rules that may represent a change in the agency’s strategy to pursue enforcement actions and could also allow it to have more time to tackle its ambitious and crowded agenda. Get the Full...
The National Institute of Standards and Technology (NIST), a non-regulatory agency of the U.S. Department of Commerce, on March 3 closed a public consultation on its Cybersecurity Considerations for Open Banking Technology and Emerging Standards report. Get the Full Story Complete the form to unlock...
The Consumer Financial Protection Bureau (CFPB) opened an inquiry into buy now, pay later (BNPL) on Dec. 16, 2021. As part of that inquiry, the CFPB asked for five key BNPL providers to provide data intended to clarify the risks and benefits of this product...
