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Category: Press release |
Published

CFPB Joins Other Financial Regulatory Agencies in Issuing Statement on Completing the LIBOR Transition

Today, the Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies, along with state bank and state credit union regulators, in issuing a statement that the use of United States Dollar LIBOR (USD LIBOR) panels will end on June 30, 2023.

Category: Press release |
Published

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.

Category: Press release |
Published

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.

Category: Press release |
Published

CFPB Proposes Rule to Rein in Excessive Credit Card Late Fees

Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to curb excessive credit card late fees that cost American families about $12 billion each year. Major credit card issuers continue to profit off a junk fee protected by an immunity provision that allows issuers to escape scrutiny of otherwise illegal late fees.

Category: Press release |
Published

CFPB Issues Order to Terminate Upstart No-Action Letter

Today, the Consumer Financial Protection Bureau (CFPB) issued an order to terminate Upstart Network from its list of approved “no-action letters.” The CFPB had granted special regulatory treatment to Upstart by immunizing the lender from being charged with fair lending law violations with respect to its underwriting algorithm, while the “no-action letter” remained in force. Upstart requested an amendment to the “no-action letter” that would effectively seek an immediate termination.

Category: Press release |
Published

Consumer Financial Protection Bureau Launches Initiative to Save Americans Billions in Junk Fees

Today, the Consumer Financial Protection Bureau (CFPB) launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies. Today’s request is a chance for the public to share input that will help shape the agency’s rulemaking and guidance agenda, as well as its enforcement priorities in the coming months and years.

Category: Press release |
Published

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.

Category: Press release |
Published

Consumer Financial Protection Bureau Issues Report Finding a Continued Decline in College Credit Card Agreements in 2020

The Consumer Financial Protection Bureau (CFPB) today released a report on the agreements signed between credit card issuers and colleges, or organizations affiliated with colleges, finding that the market for college credit cards continued its general trend of decline in 2020.