Prepared Remarks of CFPB Director Rohit Chopra at the Brookings Institution Event on Payments in a Digital Century
Over roughly a decade, digital payments, mostly conducted through mobile devices, rapidly became ubiquitous in China.
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CFPB Announces Advisory Committee Appointments
The Consumer Financial Protection Bureau (CFPB) announced the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.
Prepared Remarks of Seth Frotman, General Counsel and Senior Advisor to the Director, at New Jersey Citizen Action Education Fund’s 14th Annual Financial Justice Summit
New Jersey has made great progress on a range of crucial consumer protection issues, from last year’s legislation providing important protections against predatory lending by for-profit schools to building momentum on basic debt collection standards to fighting off efforts to allow problematic earned wage access products.
CFPB Mortgage Report Finds Jumps in Closing Costs and Denials for Insufficient Income, Growing Proportion of Cash-Out Refinances
Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends.
Statement of CFPB Director Rohit Chopra on Mortgage Market Activity and Trends
Today, the CFPB issued its annual report on Home Mortgage Disclosure Act data.
Consumer advisory: People have the right to cancel credit repair services
Under a recent CFPB enforcement action, customers who signed up for credit repair services that were marketed to them through telemarketing can cancel their credit repair services anytime.
CFPB Kicks Off Rulemaking to Remove Medical Bills from Credit Reports
The Consumer Financial Protection Bureau (CFPB) today announced it is beginning a rulemaking process to remove medical bills from Americans’ credit reports.
Prepared Remarks of CFPB Director Rohit Chopra on Medical Debt at a Press Call Hosted by Vice President Kamala Harris
The Consumer Financial Protection Bureau is launching a rulemaking to block medical debt collectors from weaponizing the credit reporting system to coerce patients into paying bills they may not even owe.
CFPB Issues Guidance on Credit Denials by Lenders Using Artificial Intelligence
Today, the Consumer Financial Protection Bureau (CFPB) issued guidance about certain legal requirements that lenders must adhere to when using artificial intelligence and other complex models.
CFPB Report Finds College Tuition Payment Plans Can Put Student Borrowers at Risk
The Consumer Financial Protection Bureau (CFPB) issued a new report finding that students face risk when entering into agreements with colleges to spread the upfront cost of tuition into several, interest-free loan payments
Prepared Remarks of CFPB Director Rohit Chopra at the Better Markets Conference on the 15th Anniversary of the Collapse of Lehman Brothers and the Onset of the Global Financial Crisis
Director Chopra delivered remarks discussing the implosion of Lehman Brothers and the regulatory framework implemented by the CFPB.
Prepared Remarks of CFPB Director Rohit Chopra at The Mortgage Collaborative National Conference
Director Chopra delivered prepared remarks on the CFPB’s mortgage rules.
CFPB Orders Leasing Company Tempoe to Provide $36 Million in Penalties and Relief for Tricking Consumers and Hiding Contract Terms
The CFPB took action against Tempoe, LLC for tricking consumers into expensive leasing agreements by concealing the contract terms and costs, and failing to provide legally required disclosures.
CFPB Report Highlights Role of Big Tech Firms in Mobile Payments
The CFPB published a new issue spotlight highlighting the impacts of Big Tech companies’ policies and practices that govern tap-to-pay on mobile devices like smartphones and watches.
Prepared Remarks of CFPB Director Rohit Chopra at the Federal Reserve Bank of Philadelphia’s Annual Fintech Conference
Like transportation, telecommunications, and energy, banking and payments are critical infrastructure of the economy that impacts all of us.
Consumer advisory: Take action when home insurance is cancelled or costs surge
Homeowners insurance might get more expensive, or not be renewed at all. Mortgage borrowers can take steps to find more affordable options.
Statement of CFPB Director Rohit Chopra Member, FDIC Board of Directors Regarding Proposals to Improve the FDIC’s Options for Managing Large Bank Failures
Last month, the FDIC Board of Directors voted to propose a rule that would reduce the risk of bailouts and financial crises stemming from large bank failures.
CFPB Reaches Multibillion Dollar Settlement with Credit Repair Conglomerate
Largest credit repair brands in America, including Lexington Law and CreditRepair.com, perpetrated yearslong scheme to illegally harvest billions in fees.
Agencies to Host Roundtable on Special Purpose Credit Programs
Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs (SPCP) to help meet the credit needs of eligible individuals.
CFPB Sues Installment Lending Conglomerate for Illegally Churning Loans to Harvest Hundreds of Millions in Loan Costs and Fees
A CURO Group Holdings Company, Heights Finance, formerly known as Southern Management Corporation, induced struggling customers into a fee-harvesting and loan-churning scheme.
CFPB Penalizes Freedom Mortgage and Realty Connect for Illegal Kickbacks
Lender provided incentives to Realty Connect and other brokerages in exchange for mortgage referrals
Remarks of CFPB Director Rohit Chopra at White House Roundtable on Protecting Americans from Harmful Data Broker Practices
The United States has a long history of recognizing the sanctity of protecting against unwanted intrusions into our homes and our lives.
CFPB Sues USASF Servicing for Illegally Disabling Vehicles and for Improper Double-Billing Practices
The CFPB filed a lawsuit in federal court against auto-loan servicer USASF Servicing for a host of illegal practices that harmed individuals with auto loans.
Statement of CFPB Director Rohit Chopra at the Financial Stability Oversight Council
This weekend, 118 million Americans could be living somewhere with a heat index above 100 degrees.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, Regarding the Proposal to Strengthen the Resilience of America’s Largest Banks
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, Regarding the Proposal to Strengthen the Resilience of America’s Largest Banks.