CFPB Extends Compliance Dates for Small Business Lending Rule
The CFPB issued an interim final rule to extend compliance deadlines for the Section 1071 small business lending rule.
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CFPB Takes Action Against Repeat Offender Freedom Mortgage Corporation for Violating Law Enforcement Order and for Housing Data Errors
The CFPB filed a proposed order that would require Freedom Mortgage Corporation to pay a $3.95 million penalty for submitting error-riddled mortgage loan data.
CFPB Proposes to Ban Medical Bills from Credit Reports
Today, the CFPB proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay.
Prepared Remarks of CFPB Director Rohit Chopra on the Proposed Ban of Medical Bills on Credit Reports
Research from the Consumer Financial Protection Bureau in 2022 showed that medical collections tradelines appeared on 43 million credit reports, and that 58 percent of bills that were in collections and on people’s credit records were medical bills.
Prepared Remarks of CFPB Director Rohit Chopra on the Buy Now, Pay Later Press Call
CFPB Director Rohit Chopra delivered prepared remarks on an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.
CFPB actúa en préstamos Compre Hoy y Pague Luego
La CFPB emitió una interpretación de normativa que confirma que los prestamistas Compre Hoy y Pague Luego son emisores de tarjetas de crédito.
CFPB Takes Action to Ensure Consumers Can Dispute Charges and Obtain Refunds on Buy Now, Pay Later Loans
The Consumer Financial Protection Bureau (CFPB) today issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.
CFPB demanda a SoLo Funds por engañar a consumidores
CFPB demanda a SoLo Funds, una plataforma de préstamos persona a persona, por mentirles a sus prestatarios y engañarlos acerca del verdadero costo de sus préstamos.
CFPB Sues SoLo Funds for Deceiving Borrowers and Illegally Extracting Fees
The CFPB sued SoLo Funds, which runs a peer-to-peer lending platform, for lying to borrowers and deceiving them about the total cost of loans.
Prepared Remarks of CFPB Director Rohit Chopra at the Joint Hearing on Airline and Credit Card Rewards Programs
CFPB Director Rohit Chopra provided opening remarks at the Joint Hearing on Airline and Credit Card Rewards Programs.
CFPB Report Highlights Consumer Frustrations with Credit Card Rewards Programs
The CFPB issued a new report finding consumers encounter numerous problems with credit card rewards programs.
CFPB: 15 millones tienen facturas médicas en sus informes de crédito
CFPB publica reporte mostrando que hay 15 millones de personas que todavía tienen facturas médicas en sus informes de crédito, a pesar de cambios efectuados en sus procesos por Equifax, Experian y TransUnion.
CFPB Finds 15 Million Americans Have Medical Bills on Their Credit Reports
The CFPB today released research showing that 15 million Americans still have medical bills on their credit reports despite changes by Equifax, Experian, and TransUnion.
Prepared Remarks of CFPB Director Rohit Chopra at Rutgers Law School Center for Corporate Law and Governance
CFPB Director Rohit Chopra provided remarks at Rutgers Law Center School Center for Corporate Law and Governance on student-loan securitization.
CFPB Comment to Illinois Joint Committee on Administrative Rules on the State’s Proposed Community Reinvestment Act Rules
The CFPB’s Deputy Director submits this CFPB comment to the Illinois Joint Committee on the state’s proposed community reinvestment rules, specifically in support of provisions addressing appraisal bias.
CFPB Orders Federal Supervision for Installment Lender Following Contested Designation
The Consumer Financial Protection Bureau (CFPB) today published an order establishing supervisory authority over installment lender World Acceptance.
CFPB Report Finds Large Banks Charge Higher Credit Card Interest Rates than Small Banks and Credit Unions
The Consumer Financial Protection Bureau (CFPB) today reported on the first set of results from the newly updated Terms of Credit Card Plans survey.
FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending
FFIEC Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending
CFPB Proposes Rule to Close Bank Overdraft Loophole that Costs Americans Billions Each Year in Junk Fees
The CFPB today proposed a rule to rein in excessive overdraft fees charged by the nation’s biggest financial institutions.
La CFPB Propone Normativa para Cerrar el Vacío Legal sobre los Sobregiros Bancarios que le Cuesta Miles de Millones de Dólares a los Consumidores del País
CFPB propone normativa para regir las excesivas penalidades por sobregiros, cobrados por las instituciones financieras más grandes de la nación.
Prepared Remarks of CFPB Director Rohit Chopra on Overdraft Lending Press Call
Director Chopra delivered remarks on the CFPB’s proposed overdraft lending rule.
CFPB Report Finds Many College-Sponsored Financial Products Charge High and Unusual Fees
The Consumer Financial Protection Bureau found that many college-sponsored financial products have higher fees and worse terms and conditions compared to typical market products.
CFPB Orders Bank of America to Pay $12 Million for Reporting False Mortgage Data
The Consumer Financial Protection Bureau (CFPB) today ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law.
CFPB Orders Toyota Motor Credit to Pay $60 Million for Illegal Lending and Credit Reporting Misconduct
The Consumer Financial Protection Bureau (CFPB) today ordered Toyota Motor Credit Corporation to pay $60 million in consumer redress and penalties for operating an illegal scheme to prevent borrowers from cancelling product bundles that increased their monthly car loan payments.
CFPB Orders Citi to Pay $25.9 Million for Intentional, Illegal Discrimination Against Armenian Americans
Citi singled out for discrimination applicants for certain credit card products whom it suspected of being of Armenian descent.