Newsroom

The Consumer Financial Protection Bureau and the Justice Department sued Colony Ridge for operating an illegal land sales scheme and targeting Hispanic borrowers.

Director Chopra delivered remarks on the joint CFPB/DOJ action against Colony Ridge.

The FDIC Board of Directors is voting on a final rule to update the framework governing official FDIC signs and advertising requirements, as well as misrepresentations related to federal deposit insurance.

The Consumer Financial Protection Bureau (CFPB) today issued a new report finding that many consumers are still being hit with unexpected overdraft and nonsufficient fund (NSF) fees, despite recent changes implemented by banks and credit unions that have eliminated billions of dollars in fees charged each year.

The Consumer Financial Protection Bureau found that many college-sponsored financial products have higher fees and worse terms and conditions compared to typical market products.

The Consumer Financial Protection Bureau ordered U.S. Bank to pay nearly $21 million for keeping consumers from accessing unemployment benefits during the COVID-19 pandemic.

Nine months ago, several large domestic systemically important banks (DSIBs) failed. The stress in the financial system led policymakers to take emergency actions to halt the contagion.

The Consumer Financial Protection Bureau took action against Commonwealth Financial Systems for illegally trying to collect unverified medical debts.

The Consumer Financial Protection Bureau (CFPB) today took action against Atlantic Union Bank for illegally enrolling thousands of customers in checking account overdraft programs.

I am proud of the CFPB’s work in getting consumers the resolutions they deserve, often through referrals from local organizations, Congressional offices, and many others.

I am pleased to share that the CFPB has reached important milestones on critical priorities.

The Consumer Financial Protection Bureau (CFPB) today ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law.

The Consumer Financial Protection Bureau (CFPB) and 11 states announced today that student lender Prehired will provide more than $30 million in relief to student borrowers for making false promises of job placement, trapping students with “income share” loans that violated the law, and resorting to abusive debt collection practices when borrowers could not pay.

The Consumer Financial Protection Bureau (CFPB) today ordered Toyota Motor Credit Corporation to pay $60 million in consumer redress and penalties for operating an illegal scheme to prevent borrowers from cancelling product bundles that increased their monthly car loan payments.

The Consumer Financial Protection Bureau (CFPB) issued a report highlighting medical debt collections and challenges faced by American families.

The government’s promise that insured deposits will be protected from loss in the event of a bank failure has been the backbone of banking system stability for 90 years. The Federal Deposit Insurance Corporation’s stewardship of the Deposit Insurance Fund is vital to keeping that promise and maintaining the public’s confidence.

In March 2023, the failures of Silicon Valley Bank and Signature Bank threatened to create cascading stress throughout the banking system and inflict serious damage on the economy.

CFPB ordenó al prestamista online Enova International Inc. pagar una multa de $15 millones por asumir conducta ilegal, que incluyó retirar fondos de cuentas bancarias sin autorización, hacer declaraciones engañosas sobre préstamos y cancelar extensiones de préstamos

The Consumer Financial Protection Bureau (CFPB) today ordered online lender Enova International Inc. to pay a $15 million penalty for widespread illegal conduct including withdrawing funds from customers’ bank accounts without their permission, making deceptive statements about loans, and cancelling loan extensions.

Force-placed insurance was a noteworthy facet of the foreclosure crisis in 2007-2008, and remains a continuing risk for homeowners. The CFPB is responsible for enforcing mortgage servicing rules related to force-placed insurance.

The Federal Reserve Board and the Consumer Financial Protection Bureau today announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2024 are subject to certain Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) requirements.

The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2024 threshold for whether higher-priced mortgage loans are subject to special appraisal requirements will increase from $31,000 to $32,400.

Citi singled out for discrimination applicants for certain credit card products whom it suspected of being of Armenian descent.

The CFPB took action against Citi, one of the globe’s largest banks, for intentionally and systematically discriminating against Americans of Armenian descent.

Citi discriminó a aquellos solicitantes de ciertos productos de tarjetas de crédito, de quienes sospechaba eran de ascendencia armenia.