CFPB Publishes New Bulletin Analyzing Rise in Crypto-Asset Complaints
“Pig butchering” and other scams lead list of crypto-asset complaints.
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CFPB Kicks Off Personal Financial Data Rights Rulemaking
Proposals under consideration would fuel market competition and strengthen consumer data rights.
CFPB Study Details the Rapid Growth of “Buy Now, Pay Later” Lending
Business model relies on data collection, and loans serve as close substitute for credit cards.
Director Chopra’s prepared remarks on the release of the CFPB’s Buy Now, Pay Later report
Director Chopra delivered prepared remarks on a press call discussing the release of a report on market trends and consumer impacts from Buy Now, Pay Later loans.
CFPB Takes Action to Protect the Public from Shoddy Data Security Practices
The Consumer Financial Protection Bureau (CFPB) confirmed in a circular published today that financial companies may violate federal consumer financial protection law when they fail to safeguard consumer data. The circular provides guidance to consumer protection enforcers, including examples of when firms can be held liable for lax data security protocols.
CFPB Warns that Digital Marketing Providers Must Comply with Federal Consumer Finance Protections
Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule laying out when digital marketing providers for financial firms must comply with federal consumer financial protection law.
CFPB Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms
Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models using complex algorithms.
Consumer Financial Protection Bureau Outlines Options To Prevent Algorithmic Bias In Home Valuations
The Consumer Financial Protection Bureau (CFPB) today outlined options to ensure that computer models used to help determine home valuations are accurate and fair. The options will now be reviewed to determine their potential impact on small businesses.
CFPB Bans Payment Processor BrightSpeed Solutions and Its Former CEO for Supporting Telemarketing Scammers Targeting Older Americans
Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed final judgement and order with a federal district court that, if entered by the court, would resolve a March 2021 lawsuit brought by the CFPB against BrightSpeed Solutions and its founder Kevin Howard.
Consumer Financial Protection Bureau Opens Inquiry Into “Buy Now, Pay Later” Credit
Today the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit.
Remarks of Director Rohit Chopra at a Joint DOJ, CFPB, and OCC Press Conference on the Trustmark National Bank Enforcement Action
Director Rohit Chopra remarks at the joint DOJ, CFPB, and OCC press conference on the Trustmark National Bank enforcement action.
CFPB Orders Tech Giants to Turn Over Information on their Payment System Plans
Today, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the United States. The information will help the CFPB better understand how these firms use personal payments data and manage data access to users so the Bureau can ensure adequate consumer protection.
CFPB, FTC and North Carolina Department of Justice File Amicus Brief in Henderson v. The Source for Public Data, L.P.
Today the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC) and North Carolina Department of Justice filed an amicus brief in support of the consumer plaintiffs in Henderson v. The Source for Public Data, L.P.
Agencies Extend Comment Period on Request for Information on Artificial Intelligence
Five federal financial regulatory agencies announced today they will extend the comment period on the request for information on financial institutions’ use of artificial intelligence (AI) until July 1, 2021.
Agencies Seek Wide Range of Views on Financial Institutions’ Use of Artificial Intelligence
Five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI). The agencies seek information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations.