The CFPB opens the door to class action suits, and possibly trial lawyer riches, while across the pond, some warnings on regulatory compliance rumble, and Barclays begins ring-fencing efforts.
Republican lawmakers have stated their intention to use the Congressional Review Act to overturn the arbitration rule issued by the Consumer Finance Protection Bureau on Monday. Said rule change would allow consumers to band together to form class action suits by making it illegal for...
The Consumer Financial Protection Bureau (CFPB) announced news on Tuesday (June 27) that it filed two complaints and proposed final judgments against four California-based credit repair companies and three individuals for misleading consumers and charging illegal fees. Get the Full Story Complete the form to...
The Consumer Financial Protection Bureau (CFPB) has issued a new report that indicates consumers are displeased with how student loan servicers are handling (and mishandling) Public Service Loan Forgiveness. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Despite industry concerns — and a potential congressional challenge — the new CFPB prepaid card regulations looked full steam ahead to go into effect on schedule next year. But as of last week, it looked like the consumer group was having some second thoughts. Now...
As the Consumer Finance Protection Bureau (CFPB) remains in the crosshairs of the Trump administration and members of Congress, data privacy has been top of mind — namely, who should have access to that data. Get the Full Story Complete the form to unlock this article and...
The Consumer Financial Protection Bureau (CFPB) has reversed course about debt collection, and, as The American Banker noted, “in a big win for third-party debt collectors,” has said that banks, among other first-party creditors, must be responsible for accuracy of their consumer debt data. Get...
The Consumer Financial Protection Bureau (CFPB) announced in a press release that it sent letters to top retail credit card companies encouraging them to use more transparent promotions for the sake of consumer protection. Get the Full Story Complete the form to unlock this article...
In another salvo lobbed by Congress and, specifically, Republicans toward the Consumer Financial Protection Bureau (CFPB), the House Financial Services Committee is, as The American Banker puts it, “threatening to file contempt charges” against the agency’s head, Richard Cordray. Get the Full Story Complete the...
