Synchrony, PayActiv join CFPB's compliance sandbox


The Consumer Financial Protection Bureau is giving the credit card issuer and the fintech firm some regulatory latitude to develop specific new products.


How far left will CFPB swing in 2021?


The Consumer Financial Protection Bureau is headed for more disruption in the new year with a Democratic administration likely to reverse several GOP-backed policies. More aggressive relief for mortgage borrowers, a rollback of Trump-era rulemakings and yet another realignment of CFPB offices will all be on the table.


Make sure math justifies machine learning-based lending decisions


Underpinning the technology with mathematically sound models can make a better case to consumers and regulators for why a loan applicant was denied.


CFPB orders Discover to pay $35 million for student lending mishaps


The consumer bureau said the bank’s migration to a new servicing platform led to unauthorized payment withdrawals, misrepresentations about what borrowers owed and violations of a prior 2015 enforcement action.


CFPB finalizes disclosure requirements for debt collectors


The agency's rule outlines steps collectors must take to inform consumers about an outstanding debt, and prohibits companies from pursuing lawsuits after a statute of limitations has ended.


CFPB finalizes overhaul of mortgage underwriting rules


The consumer bureau's revamp of criteria for "qualified mortgages," a special regulatory class of loans free from liability, emphasizes pricing instead of a borrower's debt-to-income ratio.


A Biden CFPB could put pressure on mortgage servicers


The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to help borrowers could face tougher enforcement.


Mr. Cooper to pay $91 million to settle CFPB servicing case


The complaint dates back to 2014 state regulator examinations when the company was known as Nationstar.


LendUp overcharged military borrowers, CFPB says in lawsuit


The Consumer Financial Protection Bureau alleges that the online lender made loans that exceeded a federal cap on interest rates for active-duty service members.


CFPB gives go-ahead to firms seeking advisory opinions


The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish the advisory rulings in the Federal Register.