Enforcement

CFPB poised to reinstate tough stance on payday lenders

03/29/21

A recent statement by acting Director Dave Uejio is the clearest signal that the agency plans to revive strong underwriting standards that the Trump administration eliminated.

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CFPB rescinds Trump-era policy defining 'abusive' conduct

03/11/21

The agency's new leadership, which has already unwound numerous actions from the prior administration, said the January 2020 guidance implementing criteria for punishing firms that mistreat customers was “inconsistent with the bureau’s duty to enforce Congress’s standard.”

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Biden's CFPB nominee puts loan servicers, credit bureaus on notice

03/02/21

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student-loan servicers who aren't helping troubled borrowers.

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CFPB pick’s past statements set stage for testy confirmation hearing

02/26/21

Rohit Chopra, President Biden’s nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.

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Virginia company tricked immigrants into paying illegal fees, CFPB says

02/22/21

Libre by Nexus deceived detainees into believing they owed a monthly charge related to their proceedings before U.S. Immigration and Customs Enforcement, according to a lawsuit filed by the consumer bureau and three states.

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CFPB goes on hiring spree as it looks to ramp up enforcement

02/21/21

The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.

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Acting CFPB chief signals tougher stance against redlining

02/03/21

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.

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