Prepared Remarks of General Counsel and Senior Advisor to the Director Seth Frotman at the Innovative Payments Conference
Prepared Remarks of General Counsel and Senior Advisor to the Director Seth Frotman at the Innovative Payments Conference
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Director Chopra’s Prepared Remarks on the Interagency Enforcement Policy Statement on “Artificial Intelligence”
Director Chopra provided remarks on an interagency press conference to announce the Joint Statement on Enforcement Efforts Against Discrimination and Bias in Automated Systems
CFPB and Federal Partners Confirm Automated Systems and Advanced Technology Not an Excuse for Lawbreaking Behavior
Four federal agencies jointly pledged today to uphold America’s commitment to the core principles of fairness, equality, and justice as emerging automated systems, including those sometimes marketed as “artificial intelligence” or “AI,” have become increasingly common in our daily lives.
CFPB Issues Guidance to Address Abusive Conduct in Consumer Financial Markets
Today, the Consumer Financial Protection Bureau (CFPB) issued a policy statement that explains the legal prohibition on abusive conduct in consumer financial markets and summarizes over a decade of precedent.
CFPB Launches Inquiry Into the Business Practices of Data Brokers
The Consumer Financial Protection Bureau (CFPB) has launched an inquiry into companies that track and collect information on people’s personal lives.
CFPB Issues Guidance to Protect Mortgage Borrowers from Pay-to-Play Digital Comparison-Shopping Platforms
Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to protect Americans from double dealing on digital mortgage comparison-shopping platforms. Companies operating these digital platforms appear to shoppers as if they provide objective lender comparisons, but may illegally refer people to only those lenders paying referral fees.
CFPB Publishes New Bulletin Analyzing Rise in Crypto-Asset Complaints
“Pig butchering” and other scams lead list of crypto-asset complaints.
CFPB Kicks Off Personal Financial Data Rights Rulemaking
Proposals under consideration would fuel market competition and strengthen consumer data rights.
CFPB Study Details the Rapid Growth of “Buy Now, Pay Later” Lending
Business model relies on data collection, and loans serve as close substitute for credit cards
Director Chopra’s prepared remarks on the release of the CFPB’s Buy Now, Pay Later report
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 Takes Action to Protect the Public from Shoddy Data Security Practices
The Consumer Financial Protection Bureau (CFPB) confirmed in a circular published today that financial companies may violate federal consumer financial protection law when they fail to safeguard consumer data. The circular provides guidance to consumer protection enforcers, including examples of when firms can be held liable for lax data security protocols.
CFPB Warns that Digital Marketing Providers Must Comply with Federal Consumer Finance Protections
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.
CFPB Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms
Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models using complex algorithms.
Consumer Financial Protection Bureau Outlines Options To Prevent Algorithmic Bias In Home Valuations
The Consumer Financial Protection Bureau (CFPB) today outlined options to ensure that computer models used to help determine home valuations are accurate and fair. The options will now be reviewed to determine their potential impact on small businesses.
CFPB Bans Payment Processor BrightSpeed Solutions and Its Former CEO for Supporting Telemarketing Scammers Targeting Older Americans
Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed final judgement and order with a federal district court that, if entered by the court, would resolve a March 2021 lawsuit brought by the CFPB against BrightSpeed Solutions and its founder Kevin Howard.
Consumer Financial Protection Bureau Opens Inquiry Into “Buy Now, Pay Later” Credit
Today the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit.
Remarks of Director Rohit Chopra at a Joint DOJ, CFPB, and OCC Press Conference on the Trustmark National Bank Enforcement Action
Director Rohit Chopra remarks at the joint DOJ, CFPB, and OCC press conference on the Trustmark National Bank enforcement action.
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.
CFPB, FTC and North Carolina Department of Justice File Amicus Brief in Henderson v. The Source for Public Data, L.P.
Today the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC) and North Carolina Department of Justice filed an amicus brief in support of the consumer plaintiffs in Henderson v. The Source for Public Data, L.P.