CFPB Announces Revised Methodology for Determining Average Prime Offer Rates
Today, the Consumer Financial Protection Bureau (CFPB) announced a revised version of its “Methodology for Determining Average Prime Offer Rates.”
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Testimony of CFPB Senior Advisor Brian Shearer on Junk Fees Before the Pennsylvania House of Representatives Consumer Protection, Technology, and Utilities Committee
Testimony of CFPB Senior Advisor Brian Shearer on Junk Fees Before the Pennsylvania House of Representatives Consumer Protection, Technology, and Utilities Committee
CFPB Sues James Carnes and Melissa Carnes for Hiding Money to Avoid Paying for Illegal Payday Lending Business
Today, the Consumer Financial Protection Bureau (CFPB) took action against James R. Carnes and Melissa C. Carnes, both individually and as co-trustees of the James R. Carnes Revocable Trust and the Melissa C. Carnes Revocable Trust for hiding money through a series of fraudulent transfers in order to avoid paying more than $40 million in restitution and penalties for illegal payday lending activities.
CFPB Issues Guidance to Address Abusive Conduct in Consumer Financial Markets
Today, the Consumer Financial Protection Bureau (CFPB) issued a policy statement that explains the legal prohibition on abusive conduct in consumer financial markets and summarizes over a decade of precedent.
Director Rohit Chopra’s Prepared Remarks at the University of California Irvine Law School
Director Chopra delivered prepared remarks on fair dealing in financial markets to the University of California Irvine Law School.
CFPB Finalizes Rule to Create a New Data Set on Small Business Lending in America
The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination.
Director Chopra’s Remarks at the NCRC Just Economy Conference
Director Chopra delivered prepared remarks at the Just Economy Conference hosted by the National Community Reinvestment Coalition in Washington, DC.
Prepared Panel Remarks of CFPB Director Rohit Chopra, at the American Bar Association Spring Meeting
Director Chopra delivered prepared remarks at the American Bar Association Spring Meeting.
La CFPB Finaliza Normativa para Crear un Nuevo Conjunto de Datos para el Crédito a la Pequeña Empresa en el País
CFPB finaliza normativa exigida por el Congreso para aumentar transparencia en el crédito a la pequeña empresa, promover desarrollo y combatir discriminación.
CFPB Issues Determination that State Disclosure Laws on Business Lending are Consistent with the Truth in Lending Act
Today, the Consumer Financial Protection Bureau (CFPB) announced it has determined that state disclosure laws covering lending to businesses in California, New York, Utah, and Virginia are not preempted by the federal Truth in Lending Act.
CFPB Orders Repeat Offender Portfolio Recovery Associates to Pay More Than $24 Million for Continued Illegal Debt Collection Practices and Consumer Reporting Violations
The Consumer Financial Protection Bureau (CFPB) took action today against Portfolio Recovery Associates, one of the largest debt collectors in the nation, for violating a 2015 CFPB order and engaging in other violations of law.
CFPB Enhances Tool to Promote Competition and Comparison Shopping in Credit Card Market
Today, the Consumer Financial Protection Bureau (CFPB) launched an improved survey of credit card issuers that can help consumers and families compare interest rates and other features when shopping for a new credit card.
2022 HMDA Data on Mortgage Lending Now Available
The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2022 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for approximately 4,394 HMDA filers.
CFPB Heightens Scrutiny of Unlawful Collection of Payments on Discharged Student Loans
Today, the Consumer Financial Protection Bureau (CFPB) released a bulletin warning servicers of their obligation to halt unlawful conduct with respect to private student loans that have been discharged by bankruptcy courts.
CFPB Launches Inquiry Into the Business Practices of Data Brokers
The Consumer Financial Protection Bureau (CFPB) has launched an inquiry into companies that track and collect information on people’s personal lives.
CFPB Uncovers Illegal Junk Fees on Bank Accounts, Mortgages, and Student and Auto Loans
Today, the Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights that reports on unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets, including in mortgage, student, and payday lending.
CFPB and NLRB Announce Information Sharing Agreement to Protect American Consumers and Workers from Illegal Practices
The Consumer Financial Protection Bureau (CFPB) and the National Labor Relations Board (NLRB) today signed an information sharing agreement, creating a formal partnership between the two agencies to better protect American families and to address practices that harm workers in the “gig economy” and other labor markets.
Deputy Director Martinez’s Prepared Remarks at the Consumer Law Scholars Conference
Deputy Director Martinez delivered prepared remarks on the CFPB’s junk fees work at the Consumer Law Scholars Conference in Berkeley, California.
CFPB Publishes New Findings on Financial Profiles of Buy Now, Pay Later Borrowers
The Consumer Financial Protection Bureau (CFPB) has published a new report analyzing the financial profiles of Buy Now, Pay Later borrowers.
La CFPB Publica Nuevo Reporte sobre los Perfiles Financieros de Prestatarios de Préstamos Compre Ahora y Pague Luego
La CFPB Publica Nuevo Reporte sobre los Perfiles Financieros de Prestatarios de Préstamos Compre Ahora y Pague Luego
Reporte de la CFPB Examina como Altas Tarifas Afectan los Beneficios Públicos
La CFPB publicó un nuevo reporte sobre como los productos financieros usados para entregar beneficios públicos, afectan el acceso a la asistencia provista.
New CFPB Issue Spotlight Examines High Fees that Chip Away at Public Benefits
The Consumer Financial Protection Bureau (CFPB) released a new issue spotlight examining how the financial products used to deliver public benefits, like Social Security and unemployment compensation, affect individuals’ ability to fully access the assistance provided through those programs.
CFPB Announces Appointments of New Advisory Committee Members
The Consumer Financial Protection Bureau (CFPB) announced today the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.
La CFPB Cierra el Negocio de Préstamos Hipotecarios de la Corporación RMK Financial, por sus Repetidas Ofensas Contra Familias Militares
La CFPB excluyó permanentemente a RMK Financial Corporation de la industria del crédito hipotecario, prohibiéndole hacer actividades o recibir remuneración.
CFPB Shuts Down Mortgage Loan Business of RMK Financial for Repeat Offenses Against Military Families
Today, the Consumer Financial Protection Bureau (CFPB) permanently banned RMK Financial Corporation, which does business as Majestic Home Loans, from the mortgage lending industry by prohibiting RMK from engaging in any mortgage lending activities or receiving remuneration from mortgage lending.