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.
Director Chopra delivered prepared remarks on a press call hosted by the White House.
CFPB Director Chopra’s statement on FSOC’s 2022 Annual Report.
CFPB Director Chopra’s remarks at a meeting of the FDIC Advisory Committee on Economic Inclusion to discuss the 2021 FDIC National Survey of Unbanked and Underbanked Households.
Prepared remarks of CFPB Director Chopra at the financial technologies conference Money 20/20.
Director Chopra delivered remarks on digital marketing and advertising at the 2022 NAAG Presidential Summit in Des Moines, IA.
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.
Deputy Director Martinez delivered opening remarks during the FDIC’s ComE-IN meeting on June 28, 2022.
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.
The Consumer Financial Protection Bureau (CFPB) announced that it is invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers.
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.
This week, President Biden convened members of his cabinet and other agency heads to talk about actions we can take in a whole-of-government approach to spur competition in our economy.
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.
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.
The Consumer Financial Protection Bureau (CFPB) today proposed a new rule designed to help small businesses gain access to the credit they need and deserve by increasing transparency in the lending marketplace.
Acting Director Dave Uejio remarks at the press call on the small business lending proposed rule.
The Consumer Financial Protection Bureau issued a request for information to examine the impact of the rules that implement the Credit Card Accountability Responsibility and Disclosure Act of 2009.
Today the Consumer Financial Protection Bureau (CFPB) published a notice on how it plans to periodically review regulations under the Regulatory Flexibility Act (RFA) and to request public input.
The Consumer Financial Protection Bureau (Bureau) today announced a settlement with Enova International, Inc., an online consumer lender based in Chicago, Illinois.
Five federal financial institutions regulators and state regulators encourage financial institutions to work with consumers affected by the federal government shutdown.
Good morning. Thank you Ruth for the introduction and for inviting the Bureau to be a part of this year’s Consumer Empowerment Conference. Consumer Action has graciously invited Bureau employees to speak at this event in years past, and I am honored to continue this tradition. And I am especially happy to return to my roots here in the Midwest.
Bureau Seeks to Ensure a Workable Data Aggregation Market That Gives Consumers Protection and Value
Lenders Must Determine If Consumers Have the Ability to Repay Loans That Require All or Most of the Debt to be Paid Back at Once
Thank you for joining us. After a long process of research, outreach, and review of over one million public comments, the Consumer Bureau today has issued a rule aimed at stopping debt traps on payday and auto title loans. The rule is guided by the basic principle of requiring lenders to determine upfront whether people can afford to repay their loans.
