The Consumer Financial Protection Bureau today issued a final rule concerning small dollar lending in order to maintain consumer access to credit and competition in the marketplace.
The Consumer Financial Protection Bureau announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries.
The Consumer Financial Protection Bureau (Bureau), the South Carolina Department of Consumer Affairs (South Carolina), and Arkansas Attorney General Leslie Rutledge filed a lawsuit in federal district court in the District of South Carolina against Candy Kern-Fuller, Howard Sutter III, and Upstate Law Group LLC.
The Consumer Financial Protection Bureau (Bureau) and the Office of the Arkansas Attorney General today filed a proposed settlement with Andrew Gamber; Voyager Financial Group, LLC; BAIC, Inc.; and SoBell Corp.
The Consumer Financial Protection Bureau today is proposing to rescind certain provisions of its 2017 final rule governing “Payday, Vehicle Title, and Certain High-Cost Installment Loans.”
Payday Lender Failed to Prevent Overcharges, Made Harassing Collection Calls to Borrowers’ References, Must Pay $100,000 Fine
The Bureau expects to issue proposed rules in January 2019 that will reconsider the Bureau's rule regarding Payday, Vehicle Title, and Certain High-Cost Installment Loans and address the rule's compliance date.
Cash Express Made Misleading Representations to Consumers and Improperly Seized Money From Check-Cashing Transactions
The Bureau of Consumer Financial Protection (BCFP) has filed a complaint against Future Income Payments, LLC (FIP), and others.
Today a federal district court in the Western District of Missouri entered an Order effectuating a settlement between the Bureau of Consumer Financial Protection (Bureau) and Richard Moseley, Sr., Richard Moseley, Jr., and 20 interrelated corporate entities controlled by Moseley, Sr. and Moseley, Jr., in the Bureau’s lawsuit regarding the unlawful origination and servicing of short-term, small-dollar online loans to consumers nationwide.
Triton Did Not Properly Disclose Terms and Conditions of Certain Loan Products, and Failed to Disclose Finance Charges in Advertisements
Company Engaged In Improper Debt Collection and Credit Furnishing Practices
The Bureau of Consumer Financial Protection (Bureau) today
issued the following statement on the Payday Rule:
"January 16, 2018 is the effective date of the Bureau of
Consumer Financial Protection’s final rule entitled “Payday, Vehicle Title, and
Certain High-Cost Installment Loans”"(“Payday Rule”). The Bureau intends
to engage in a rulemaking process so that the Bureau may reconsider the
Payday Rule.
Bureau Alleges That Think Finance Deceived Consumers Into Paying Debts That Were Not Valid
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.
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
Bureau Supervision Requires Some Companies to Change Practices to Prevent Future Violations
Bureau Orders Zero Parallel and Its Owner to Pay $350,000 and Stop Their Abusive Practices
Bureau Alleges Companies Deceived Consumers About Debt That Was Not Legally Owed
Pawnbroker to Pay Restitution to Consumers and End Deceptive Disclosures
Bureau Alleges Four Virginia Pawnbrokers Disclosed Misleading Annual Percentage Rates
Bureau Orders Financial Services Company to Pay $255,000 to Consumers
CFPB to Evaluate Military Lending Act Violations in its Exams of Creditors and Will Use Its Enforcement Authority in Cases of Substantial Consumer Harm
Good afternoon and thank you for inviting me today. It is good to be here with so many people who have similar goals and ideals. The thread that ties us together is our shared commitment to the goal of empowering the economically vulnerable among us. At the Consumer Financial Protection Bureau, we understand our ultimate goal is to make sure every consumer counts.
