Director Chopra delivered prepared remarks on a press call discussing the release of a report on market trends and consumer impacts from Buy Now, Pay Later loans.
CFPB Sues ACE Cash Express for Concealing No-Cost Repayment Plans and Improperly Withdrawing Consumers’ Funds
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit today accusing payday lender ACE Cash Express of concealing free repayment plans from struggling borrowers. Because of ACE’s illegal practices, individual borrowers paid hundreds or thousands of dollars in reborrowing fees, when they were in fact eligible for free repayment plans.
Consumer Financial Protection Bureau Issues No Action Letter to Facilitate Consumer Access to Small-Dollar Loans
The Consumer Financial Protection Bureau granted a no-action letter to Bank of America, N.A. regarding certain small-dollar credit products.
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.
Consumer Financial Protection Bureau Settles with Short-term Lenders for Engaging in Unfair and Deceptive Acts and Practices
The Consumer Financial Protection Bureau announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries.
Consumer Financial Protection Bureau, South Carolina, and Arkansas File Suit Against Brokers of High-Interest Credit Offers
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 announced a proposed settlement with Think Finance, LLC, formerly known as Think Finance, Inc.
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.”
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 (Bureau) today released its 17th edition of Supervisory Highlights.
Today, Bureau Acting Director Mick Mulvaney issued the following statement in response to a bulletin from the Office of the Comptroller of the Currency regarding short-term, small-dollar credit.
CFPB Takes Action Against Top Notch Funding for Lying in Loan Offers to NFL Players, Deepwater Horizon Victims, and 9/11 First Responders
Proposed Order Would Shutter Post-Settlement Funding Business, End Deceptive Business Practices, and Impose Penalties
Bureau Alleges Companies Deceived Consumers About Debt That Was Not Legally Owed
CFPB and State of Virginia Take Action Against Woodbridge Gold & Pawn for Deceiving Consumers About Loan Costs
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
Bureau Alleges Virginia Pawnbroker Disclosed Misleadingly Low Annual Percentage Rate
Online Lender Did Not Help Consumers Build Credit or Access Cheaper Loans, As It Claimed
Consumer Financial Protection Bureau Supervisory Actions Return $24.5 Million To A Quarter-Million Consumers Harmed By Illegal Activities
Report Highlights Violations in Auto Origination, Debt Collection, Mortgage Origination and Small-dollar Lending