CFPB Report Finds Cash-Out Mortgage Refinance Borrowers Improve Credit Scores
Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers.
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CFPB Finds More Vehicles Eligible for Repossession Than Pre-Pandemic
The CFPB published a report showing that the rate of auto repossessions at the end of 2022 surpassed pre-pandemic levels.
CFPB Orders Equifax to Pay $15 Million for Improper Investigations of Credit Reporting Errors
The CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.
CFPB Takes Action Against Draper & Kramer Mortgage for Discriminatory Mortgage Lending Practices
The CFPB took action against Draper & Kramer Mortgage Corporation for discriminatory mortgage lending activities that discouraged homebuyers from applying to Draper for homes in majority-Black and Hispanic neighborhoods in the greater Chicago and Boston areas.
CFPB Orders Honda’s Auto Financing Arm to Pay $12.8 Million for COVID-19 and Other Credit Reporting Failures
The CFPB ordered the American Honda Finance Corporation to pay $12.8 million for reporting inaccurate information that affected the credit reports of 300,000 people.
CFPB Orders Operator of Cash App to Pay $175 Million and Fix Its Failures on Fraud
The CFPB ordered Block, the operator of the peer-to-peer payments app Cash App, to refund consumers $120 million and pay a penalty of $55 million.
CFPB Takes Action to Address Illegal Debt Collection Practices by the National Collegiate Student Loan Trusts
The CFPB took action to resolve its case against the National Collegiate Student Loan Trusts for unlawfully filing defective debt collection lawsuits to collect on private student loan debt.
Consumer advisory: Beware of costly, risky, and complex home equity “investment” contracts
A summary of the risks consumers face with home equity investment contracts and agreements, including high costs, lack of disclosures, forced sale of home, and liens.
CFPB Director Rohit Chopra and General Counsel Seth Frotman article on state enforcement as a federal legislative tool
CFPB Director Rohit Chopra and General Counsel Seth Frotman published an article in the Harvard Journal on Legislation examining state enforcement as a federal legislative tool.
CFPB Sues Capital One for Cheating Consumers Out of More Than $2 Billion in Interest Payments on Savings Accounts
The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest.
CFPB Research Reveals Heavy Buy Now, Pay Later Use Among Borrowers with High Credit Balances and Multiple Pay-in-Four Loans
The CFPB released a study finding one fifth of consumers used Buy Now, Pay Later (BNPL) loans in 2022, and many held simultaneous loans from multiple lenders.
CFPB Finds Hundreds of Thousands of Mortgages in Southeast and Central Southwest US Likely Underinsured Against Flood Risk
The CFPB found significant differences in the likelihood that homeowners with a mortgage are adequately insured against flooding based on location and income and assets.
CFPB Proposes Rule to Ban Contract Clauses that Strip Away Fundamental Freedoms
Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would stop financial companies from forcing Americans to choose between participating in the financial system or giving up their rights, including those guaranteed by the Constitution.
CFPB Seeks Input on Digital Payment Privacy and Consumer Protections
Today, the CFPB announced that it is seeking public input on strengthening privacy protections and preventing harmful surveillance in digital payments, particularly those offered through large technology platforms.
CFPB Approves Application from Financial Data Exchange to Issue Standards for Open Banking
The CFPB issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule.
The Federal General Counsel, Law, and Our Democracy at a Crossroads
Prepared remarks by Seth Frotman, General Counsel and Senior Advisor to the Director, given at the University of Michigan on January 7, 2025.
CFPB Sues Experian for Sham Investigations of Credit Report Errors
The CFPB sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.
CFPB Finalizes Rule to Remove Medical Bills from Credit Reports
Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule to ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions.
CFPB termina norma sobre facturas médicas en informes de crédito | CFPB
CFPB finaliza normativa que prohíbe facturas médicas en informes de crédito, y prohíbe a prestamistas usar información médica en decisiones crediticias.
CFPB Sues Vanderbilt for Setting Borrowers Up to Fail in Manufactured Home Loans
The CFPB sued Vanderbilt Mortgage & Finance for setting families up to fail when they borrowed money to buy a manufactured home.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Developments Regarding Large Asset Manager Ownership of Banks
Statement of CFPB Director Rohit Chopra on developments regarding large asset manager ownership of banks.
CFPB Sues Walmart and Branch Messenger for Illegally Opening Deposit Accounts for More Than One Million Delivery Drivers
Today, the CFPB sued Walmart and Branch Messenger for forcing delivery drivers to use costly deposit accounts to get paid and for deceiving workers— “last mile” drivers in Walmart’s Spark Driver program—about how they could access their earnings.
CFPB Files Lawsuit to Stop Illegal Kickback Scheme to Steer Borrowers to Rocket Mortgage
The CFPB sued Rocket Homes to stop providing incentives to real estate brokers and agents in exchange for steering homebuyers to Rocket Mortgage for loans.
La CFPB demanda a bancos por fraude en Zelle | CFPB
La CFPB demandó al operador de Zelle y a tres de los bancos más grandes del país por no proteger a los consumidores del fraude que se extendió dentro de la red más grande disponible de pagos de persona a persona.
Prepared Press Call Remarks of CFPB Director Rohit Chopra on the Zelle Lawsuit Announcement
Director Chopra delivered remarks on consumers harmed by fraud on the Zelle payment network.