News Topic: UDAAP

A panel of federal judges determined that Think Finance and an online tribal payday lender must comply with state interest rate and licensing laws. ... Read full article

The proposed rollback of underwriting requirements for small-dollar lenders could redefine a legal doctrine that governs rules affecting other companies as well. ... Read full article

In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee. ... Read full article

The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement. ... Read full article

When a Columbia University professor surveyed 1,000 payday loan customers, little did he know that the resulting research report would become a lightning rod in the drafting of rules for small-dollar lenders. ... Read full article

The agency is expected soon to propose a revamp of the 2017 regulation that would eliminate the ability-to-repay provisions, which small-dollar lenders saw as a direct threat to their business. ... Read full article

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent. ... Read full article

The CFPB ordered Village Capital & Investment in Henderson, Nev., to issue refunds and pay a penalty for allegedly misrepresenting the cost savings in a refi product. ... Read full article

Readers respond to the burgeoning debate over brokered deposits, consider the Democratic presidential hopefuls for 2020, weigh the Consumer Financial Protection Bureau's latest regulatory efforts and more. ... Read full article

Regulators typically write rules before applying them. But the CFPB is attempting the reverse. ... Read full article

Readers react to efforts to improve bank branches, weigh the Consumer Financial Protection Bureau's decision to pull back on enforcing the Military Lending Act, consider efforts to build finetch sandboxes and more. ... Read full article

The retiring chairman of the House Financial Services Committee defends his often uncompromising pursuit of rolling back post-crisis regulations. ... Read full article

The consumer bureau’s interim chief told an industry conference that “regulation by enforcement is done.” ... Read full article

The agency alleges that some customers made payments to the e-commerce group even though their accounts had already been sold to third-party debt buyers. ... Read full article

The consumer bureau alleges Future Income Payments lured vulnerable consumers into taking out high-cost loans in exchange for their future pension payments. ... Read full article

The N.J. firm, which made loans to Sept. 11 first responders and pro football players diagnosed with brain injuries, was accused of usury. But a judge threw out the case, ruling that the New York attorney general lacks jurisdiction. ... Read full article

A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks no longer have to collect the data either. ... Read full article

Bankers should resist the urge to skirt financial regulations, including know-your-customer and lending standards, to make a sale. The danger of penalties and a possible reputational hit is too great. ... Read full article