Newsroom | Consumer Financial Protection Bureau

Press release

Published OCT 17, 2024

CFPB Sues Student Lender Climb Credit and Investment Firm 1/0 for Deceiving Borrowers About Coding Bootcamps and Vocational Programs

Today, the CFPB sued student lender Climb Credit and 1/0 (“one zero”) for misrepresenting the quality of the programs at their partner schools and making false claims about graduates’ outcomes.

Press release

Published OCT 15, 2024

CFPB and Justice Department Take Action Against Fairway for Redlining Black Neighborhoods in Birmingham, Alabama

The CFPB and DOJ took action to end Fairway Mortgage Corporation’s illegal mortgage lending redlining against majority-Black neighborhoods in the greater Birmingham, Alabama area.

Press release

Published OCT 10, 2024

CFPB Takes Action Against Arbitration Platform Ejudicate for Deceiving Student Borrowers

The CFPB banned private dispute resolution platform Ejudicate from arbitrating disputes about consumer products after it misled borrowers about its neutrality and initiated sham arbitration proceedings.

Press release

Published SEP 17, 2024

CFPB Takes Action to Stop Banks from Harvesting Overdraft Fees Without Consumers' Consent

The CFPB today published guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements.

Press release

Published SEP 13, 2024

CFPB Sues Horizon Card Services and CEO Robert Kane for Illegally Baiting, Gouging, and Trapping Families in High-Fee Credit Cards

The CFPB sued Horizon Card Services and its CEO Robert Kane for tricking consumers into signing up for its expensive membership credit card.

Press release

Published SEP 12, 2024

CFPB Bans Navient from Federal Student Loan Servicing and Orders the Company to Pay $120 Million for Wide-Ranging Student Lending Failures

Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order against the student loan servicer Navient for its years of failures and lawbreaking.

Speech

Published SEP 12, 2024

Prepared Remarks of CFPB Director Rohit Chopra on the Navient Enforcement Action Press Call

Director Chopra delivered remarks on the CFPB’s enforcement action against Navient.

Press release

Published SEP 11, 2024

CFPB Orders TD Bank to Pay $28 Million for Breakdowns that Illegally Tarnished Consumer Credit Reports

The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.

Press release

Published AUG 29, 2024

CFPB Orders NewDay USA to Pay $2.25 Million for Illegally Luring Veterans and Military Families into Cash-Out Refinance Loans

The CFPB took action against repeat offender New Day Financial (NewDay USA) for deceiving active duty servicemembers and veterans seeking cash-out refinance loans.

Press release

Published AUG 21, 2024

CFPB Takes Action Against Fay Servicing for Illegal Foreclosure Actions and Violating Law Enforcement Order

The CFPB ordered Fay Servicing to pay a $2 million penalty for violations of mortgage servicing laws, and for violations of a 2017 agency order.

Press release

Published AUG 08, 2024

CFPB Takes Action Against Credit Repair Cloud and CEO Daniel Rosen for Enabling Credit Repair Companies that Harvest Illegal Fees

The CFPB filed a proposed order to resolve its lawsuit against Credit Repair Cloud and CEO Daniel Rosen for assisting businesses that charge illegal advance fees to consumers.

Press release

Published JUL 26, 2024

CFPB Sues Rent-a-Center Affiliate Acima and Acima’s Founder Aaron Allred for Illegal Lending Practices

The CFPB sued a group of companies known as Acima for illegal lending activities in connection with as many as five million consumer financing agreements.

Press release

Published JUL 09, 2024

CFPB tomó acciones contra el Fifth Third Bank | CFPB

CFPB tomó acciones contra el infractor reincidente Fifth Third Bank obligándole a pagar millones en multas y reparaciones a los consumidores afectados.

Press release

Published JUL 09, 2024

CFPB Takes Action Against Fifth Third for Wrongfully Triggering Auto Repossessions and Opening Fake Bank Accounts

The CFPB took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying millions in penalties as well as paying redress to harmed consumers.

Press release

Published JUN 18, 2024

CFPB Takes Action Against Sutherland Global and NOVAD Management Consulting for Reverse Mortgage Servicing Failures

The CFPB ordered a reverse mortgage servicing operation to stop illegal activities that harmed older homeowners and caused them to fear losing their homes.

Press release

Published JUN 18, 2024

CFPB Actúa contra Administradores de Hipotecas Inversas | CFPB

The CFPB ordered a reverse mortgage servicing operation to stop illegal activities that harmed older homeowners and caused them to fear losing their homes.

Press release

Published JUN 18, 2024

CFPB actúa contra corporación por violar orden ejecutora | CFPB

La CFPB introdujo una propuesta de orden que obligaría a Freedom Mortgage Corporation a pagar una multa de $3,95 millones, por enviar datos hipotecarios llenos de errores.

Press release

Published JUN 18, 2024

CFPB Takes Action Against Repeat Offender Freedom Mortgage Corporation for Violating Law Enforcement Order and for Housing Data Errors

The CFPB filed a proposed order that would require Freedom Mortgage Corporation to pay a $3.95 million penalty for submitting error-riddled mortgage loan data.

Press release

Published JUN 17, 2024

CFPB Takes Action Against James and Melissa Carnes for Fraudulently Hiding Money to Evade Law Enforcement

The CFPB filed an order to resolve its lawsuit against James R. and Melissa C. Carnes for fraudulent transfers to avoid paying restitution and penalties.

Press release

Published JUN 17, 2024

CFPB actúa contra los Carnes por esconder dinero | CFPB

La CFPB introduce orden para resolver su demanda contra James R. y Melissa C. Carnes por hacer transferencias fraudulentas para evitar pagar reparaciones y multas.

Press release

Published JUN 03, 2024

CFPB Creates Registry to Detect Corporate Repeat Offenders

The CFPB finalized a rule to establish a registry to detect and deter corporate offenders that have broken consumer financial protection laws.

Press release

Published JUN 03, 2024

CFPB Crea Registro para Detectar Infractores Corporativos Reincidentes | CFPB

La CFPB finaliza una normativa para establecer un registro para detectar y detener a infractores corporativos que ya hayan violado leyes de protección financiera del consumidor.

Speech

Published JUN 03, 2024

Prepared Remarks of CFPB Director Rohit Chopra on the Final Rule to Detect and Deter Repeat Offenders

CFPB Director Rohit Chopra delivered remarks on the CFPB’s nonbank registration rule.

By Rohit Chopra

Press release

Published MAY 31, 2024

CFPB Sues Student Loan Servicer PHEAA for Pursuing Borrowers for Loans Discharged in Bankruptcy

The CFPB sued student loan servicer Pennsylvania Higher Education Assistance Agency for illegally collecting on student loans that have been discharged in bankruptcy and sending false information about consumers to credit reporting companies.

Press release

Published MAY 31, 2024

CFPB demanda a PHEAA por perseguir a prestatarios | CFPB

CFPB demanda a Pennsylvania Higher Education Assistance Agency por cobrar préstamos que habían sido descargados por bancarrotas y por enviar información falsa.