News Topic: CFPB

Freedom Debt Relief claimed it could negotiate on consumers’ behalf with creditors that in fact avoided dealing with debt settlement companies, the agency alleges. ... Read full article

The agency had decided not to challenge a recent court ruling that its structure violates the separation of powers, but newly confirmed Director Mark Calabria now appears willing to the fight the case. ... Read full article

The CFPB asked whether 10-year-old consumer protections against overdrafts are onerous or unfair, especially to smaller financial institutions, but banking industry officials largely said any changes could invite new problems. ... Read full article

Readers react to Congress vetting Facebook's Libra, heavily debate whether to delay CECL, opine attempts to roll back overdraft laws and more. ... Read full article

A recent high court decision said judges no longer have to automatically give agencies the benefit of the doubt when interpreting their regulations. ... Read full article

Utah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations. ... Read full article

New York Attorney General Letitia James said there is “no basis to believe” that the overdraft rule has harmed small banks and credits unions. ... Read full article

The CFPB did not file any fair-lending enforcement actions in the 2018 fiscal year and did not refer any Equal Credit Opportunity Act violations to the Department of Justice. ... Read full article

Readers respond to how Congress should address AI, concerns on Facebook's Libra and its logo, a report challenging card fraud prevention and more. ... Read full article

The CFPB is giving trade groups and consumer advocates another three months to comment on its proposal to change what data is collected under the Home Mortgage Disclosure Act. ... Read full article

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better. ... Read full article

Democratic lawmakers argue that Paul Watkins' former employment at a "homophobic hate group" makes him unfit to lead the agency's innovation office. Watkins says he did no advocacy work for that organization. ... Read full article

Sen. Elizabeth Warren said Eric Blankenstein's past writings disqualify him from working at the Department of Housing and Urban Development. ... Read full article

A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration. ... Read full article

The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings. ... Read full article

The little-known unit was launched in the wake of efforts by the CFPB and HUD to cut back on fair-lending activities, but the reach of the 10-month-old office is still unclear. ... Read full article

Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked. ... Read full article

In her first four and a half months, Kathy Kraninger met with lawmakers more than twice as often as her predecessor, but her schedule demonstrates willingness to meet with industry and policy stakeholders from various camps. ... Read full article