CFPB

The Consumer Financial Protection Bureau (CFPB) filed a petition for writ of certiorari with the U.S. Supreme Court asking the high court to hear appeal of the Fifth Circuit case Consumer Financial Services Association of America v. CFPB. If the court grants the writ, it is likely that the case will be heard later this term. Read on for more details. Read on »

The Consumer Financial Protection Bureau announced a new enforcement action against a mortgage servicer for “cheating” homeowners out of CARES Act rights. Read on for more details. Read on »

The Consumer Financial Protection Bureau (CFPB) issued a circular providing guidance on proper practices for investigation by consumer reporting companies. The circular affirms that neither consumer reporting companies nor information furnishers can skirt dispute investigation requirements. The CFPB offers guidance on how federal and state enforcers can bring claims against companies that fail to investigate properly. Read on for more details. Read on »

The Consumer Financial Protection Bureau (CFPB) and Populus Financial Group agreed to stay the bureau’s enforcement action currently being heard in a Texas federal district court until the Fifth Circuit issues a mandate in Community Financial Services Association of America v. CFPB. Read on for more details. Read on »

Weeks after the midterm election, there is finally a clear indication as to which party will be in control of each of the chambers of Congress. Even with Democrats maintaining control of the Senate, there are going to be significant changes to major committees in both chambers that will affect the consumer financial services industry. Read on for more details. Read on »

Wells Fargo has reportedly set aside $2 billion in preparations for “historical” regulatory matters it is currently in “resolution discussions” about with the Consumer Financial Protection Bureau. Read on for more details. Read on »

The Consumer Financial Protection Bureau (CFPB) has begun the rulemaking process to implement section 1033 of the Dodd-Frank Act. Under section 1033, a consumer financial service provider must make available to a consumer all information in the control or possession of the provider concerning the consumer financial products and services that the consumer obtained from the provider. The beginning of this new rulemaking process is part of the CFPB’s long-term plan to enhance consumers’ personal financial data rights. Read on for more details. Read on »

The Consumer Financial Protection Bureau (CFPB) released a new bulletin highlighting complaints the CFPB has received relating to crypto assets. Consumers reported being victimized by fraud, theft, hacking, and scams, as well as issues with executing transactions and transferring assets between exchanges. The CFPB is advising consumers on how to avoid being scammed and what to do when issues arise. Read on for more details. Read on »

Sen. Elizabeth Warren (D-Mass.) sent a letter to the Consumer Financial Protection Bureau (CFPB) summarizing the findings of her investigation revealing high rates of fraud and scams on the bank-owned peer-to-peer platform Zelle. The American Bankers Association, however, is pressing the CFPB to not shift liability on Zelle’s alleged issues with fraud. Read on for more details. Read on »

During periods of economic downturn – which most experts agree is what the U.S. will be facing for the next year or two – good marketing strategies become critical to maintaining business. While there are a number of strategies a lender can adopt, it is important to make sure lenders’ marketing efforts remain compliant with all laws and regulations. Read on to learn more about current marketing compliance topics. Read on »