Consumer Financial Protection Act news and trends

CFPB Seeks to Stop Financial Companies From ‘Weaponizing’ Fine Print
CFPB // January 13, 2025

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...

CFPB Sues Experian, Alleging Improper Investigations of Consumer Complaints
CFPB // January 07, 2025

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...

CFPB Penalizes Freedom Mortgage for Incentives to Real Estate Brokers
CFPB // August 17, 2023

The Consumer Financial Protection Bureau (CFPB) has taken action against Freedom Mortgage Corp. for engaging in illegal activities related to mortgage loan referrals. The CFPB found that Freedom provided real estate brokers and agents with various incentives, including cash payments, paid subscription services and catered...

CFPB Looks to Give Consumers More Control Over Their Data
CFPB // October 27, 2022

The Consumer Financial Protection Bureau (CFPB) is looking at ways to give consumers more control over their financial data. Under the options the CFPB is considering, consumers would be able to more easily and safely “walk away from companies offering bad products and poor service”...

Quick Reads
National Collegiate Student Loan Trusts to Settle CFPB Allegations of Illegal Debt Collection

January 16, 2025
The Consumer Financial Protection Bureau (CFPB) and the National Collegiate Student Loan Trusts have filed a proposed stipulated judgment to resolve the regulator’s lawsuit alleging that the trusts had illegal debt collection practices. If entered by the court, the proposed stipulated judgment would require the trusts to pay $2.25 million in redress to student borrowers […]

CFPB Seeks to Stop Financial Companies From ‘Weaponizing’ Fine Print

January 13, 2025
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...

CFPB Sues Experian, Alleging Improper Investigations of Consumer Complaints

January 07, 2025
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...

CFPB Penalizes Freedom Mortgage for Incentives to Real Estate Brokers

August 17, 2023
The Consumer Financial Protection Bureau (CFPB) has taken action against Freedom Mortgage Corp. for engaging in illegal activities related to mortgage loan referrals. The CFPB found that Freedom provided real...