News Topic: CFPB

The Consumer Financial Protection Bureau may have commissioned some examiners before they were prepared, a new report has found. ... Read full article

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more. ... Read full article

The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news ... Read full article

Democrats have striven to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering on their desire to overturn it. ... Read full article

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired. ... Read full article

A Consumer Financial Protection Bureau proposal would limit how much Home Mortgage Disclosure Act data is released to the public in an effort to protect consumer privacy. ... Read full article

Lawmakers may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July. ... Read full article

An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many. ... Read full article

The Consumer Financial Protection Bureau on Tuesday filed an enforcement action against Top Notch Funding, accusing it of scamming NFL concussion sufferers and 9/11 victims. ... Read full article

Consumer Financial Protection Bureau Director Richard Cordray allegedly misled Congress about the agency's investigation into Wells Fargo's illegal sales practices and may have rushed a settlement with the bank, according to a report by the GOP. ... Read full article

The CFPB has ordered National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, to pay at least $21.6 million. ... Read full article

Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years. ... Read full article

The Upstart Network's CEO, Dave Girouard, explains how the online lender worked with a normally aggressive federal regulator to balance the needs for innovation and consumer protection. ... Read full article

Agency confirms it’s investigating the credit bureau; regulator gives green light to Upstart Network to use cellphone payments, etc., to underwrite loans. ... Read full article

The Consumer Financial Protection Bureau issued its first "no-action letter" to an online lender that uses alternative data to determine creditworthiness and loan pricing. ... Read full article

The Consumer Financial Protection Bureau may face an unsteady political environment, but a new report on CFPB supervisory priorities has experts warning banks not to rest on their laurels. ... Read full article

Brad Conner, the incoming chairman of the Consumer Bankers Association, says the government's record as a direct student lender leaves much to be desired. ... Read full article

But the Wayzata, Minn., company is not out of legal hot water, as a judge let stand some charges that it violated a provision in the Dodd-Frank Act that prohibits using deceptive practices to sell consumer products. ... Read full article