Bureau targets lending practices that unlawfully price out, cut off specific segments of the population WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) announced that it will use all available legal avenues, including disparate impact, to pursue lenders whose practices discriminate against consumers. The Bureau will equip consumers with the information they need [...]
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) is seeking public comment on a proposal to revise a 2011 rule that the Federal Reserve Board had issued on credit card fees, in response to a federal court ruling that had granted a preliminary injunction to block the rule from taking effect. At issue in [...]
It can be hard to understand the language of financial products and services. Just what exactly is a grace period? What about an ARM? A balloon payment? And while the Internet can serve up an answer, how can you be sure it’s the right one? Ask CFPB, a new interactive online tool from the Consumer [...]
Rule will increase transparency and reliability of remittance transfers WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today adopted a rule that will increase protections for consumers who transfer money internationally. Under the new rule, remittance transfer providers will generally be required to disclose the exchange rate and all fees associated with a transfer [...]
Kent Markus to Fill Assistant Director of Enforcement Position Vacated by Cordray WASHINGTON, D.C. – Consumer Financial Protection Bureau Director Richard Cordray today named Raj Date the agency’s first Deputy Director. Date has been leading the day-to-day operations of the consumer bureau since it launched in July. “Raj Date is one of the most extraordinary [...]
WASHINGTON, DC – The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), the Consumer Financial Protection Bureau (CFPB), and the U.S. Department of the Treasury today announced the creation of a joint task force to combat scams targeted at homeowners seeking to apply for the Home Affordable Modification Program (HAMP). [...]
