The Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data.
Director Chopra discussed the CFPB’s proposed rule to activate a dormant authority under a 2010 law to accelerate much-needed competition and decentralization in banking and consumer finance by making it easier to switch to a new provider.
CFPB Takes Action Against Operator of Sendwave App for Illegally Cheating People on International Money Transfers
The Consumer Financial Protection Bureau (CFPB) today took action against Chime Inc. for deceiving consumers about the speed and cost of remittance transfers through its mobile app, Sendwave.
La CFPB y el Departamento de Justicia han Emitido una Declaración Conjunta afirmando que las Instituciones No Podrían Usar el Estatus Migratorio para Ilegalmente Discriminar Contra Solicitantes de Crédito
La CFPB y el DOJ emiten declaración conjunta afirmando que las instituciones no podrían usar estatus migratorio para discriminar a solicitantes de crédito.
CFPB and Justice Department Issue Joint Statement Cautioning that Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants
The Consumer Financial Protection Bureau (CFPB) and Justice Department today issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of their national origin, race, and other characteristics covered by the Equal Credit Opportunity Act, regardless of their immigration status.
Credit reporting agencies have a responsibility to ensure that consumers’ personal data is accurate and secure.
Joint Statement on Fair Lending and Credit Opportunities for Noncitizen Borrowers under the Equal Credit Opportunity Act
The Consumer Financial Protection Bureau and Department of Justice (collectively, the agencies) jointly issue this statement to assist creditors and borrowers in understanding the potential civil rights implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act (ECOA).
CFPB and FTC Take Actions Against TransUnion for Illegal Rental Background Check and Credit Reporting Practices
The CFPB and Federal Trade Commission took action against a rental screening subsidiary of the TransUnion conglomerate.
Across the country, Americans are working hard to create and provide products sold here at home and around the world.
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress which generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers, such as charging excessive fees, for basic information about their own accounts.
CFPB Exams Return $140 Million to Consumers Hit by Illegal Junk Fees in Banking, Auto Loans, and Remittances
The Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights focused on the agency’s efforts to shutdown junk fees.
CFPB Sues Repeat Offender Freedom Mortgage Corporation for Providing False Information to Federal Regulators
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court today, alleging that Freedom Mortgage Corporation submitted legally-required mortgage loan data that was riddled with errors.
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.
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.
Today, the CFPB issued its annual report on Home Mortgage Disclosure Act data.
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.
Gracias a la acción de la CFPB, Clientes pueden cancelar en cualquier momento los servicios de reparación de crédito que les hayan vendido con telemarketing.
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.
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.
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.
Director Chopra delivered prepared remarks on the CFPB’s mortgage rules.