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.
For more than five years now, I have had the honor to serve our country as the first director of the new U.S. Consumer Financial Protection Bureau. In that time, we have built a brand-new federal agency from scratch. And we have sent a strong message to the banks and large financial companies that in a frank and fair way we are pushing them to clean up their act and put their customers first.
Bureau Concerned About Companies Misleading Consumers About Pay-By-Phone Fees, Keeping Them in the Dark About Much Cheaper Options
