CFPB News

Read the latest on the Consumer Financial Protection Bureau (CFPB).

 

Items 1 - 20 of 132  1234567Next
  • CFPB Looks to Reduce 'Pain Points' in Mortgage Closings 
    Reverse Mortgage Daily 06 Jan 2014
    Taking its Know Before You Owe campaign moves into the next stage, the Consumer Financial Protection Bureau is tackling the mortgage closing process.
  • CFPB: Regulation Done Right 
    The Hill 06 Jan 2014
    A national survey conducted this past summer by the Center for Responsible Lending (CRL) and Americans for Financial Reform found that 90 percent of voters consider regulation of financial services ...
  • The CFPB's Crowded Agenda for 2014 
    American Banker 02 Jan 2014
    While the Consumer Financial Protection Bureau (CFPB) was one of the busiest regulators in 2013, writing new rules and launching enforcement actions against financial institutions, many of these actions simply set the scene for an even more active 2014.
  • House Banking Panel Passes CFPB Changes 
    American Banker 22 Nov 2013
    The House Financial Services Committee has passed a series of bills to change various aspects of the Consumer Financial Protection Bureau (CFPB).
  • Student Loan Market Headed for Crisis, CFPB Warns 
    American Banker 19 Nov 2013
    The student loan market lacks the data and regulations that could prevent another financial crisis, according to Rohit Chopra with the Consumer Financial Protection Bureau.
  • US CFPB Penalizes Republic Mortgage Insurance Over Illegal Kickbacks Practices 
    Insurance Business Review 18 Nov 2013
    Republic Mortgage Insurance Corp. (RMIC) has drawn a $100,000 fine for allegedly feeding illegal kickbacks to home lenders under an arrangement that had gone on for more than 10 years.
  • Credit-Card Rewards Programs Examined by U.S. Consumer Bureau 
    Bloomberg 15 Nov 2013
    Concerned that customers may be misled when they enroll in complex credit-card reward programs, the U.S. Consumer Financial Protection Bureau (CFPB) could consider new rules in this area.
  • Cordray Vows 'Openness' with Auto Lenders 
    American Banker 13 Nov 2013
    Consumer Financial Protection Bureau Director Richard Cordray acknowledged concerns Nov. 12 about how the agency is regulating indirect auto lenders, promising to be more transparent about its oversight.
  • Consumer Bureau: Prepaid Card Restrictions Coming 
    The Hill 12 Nov 2013
    Responding to questions at a Nov. 12 hearing on Capitol Hill, the director of the Consumer Financial Protection Bureau pledged greater checks on the prepaid card business.
  • States Sharpen Payday-Loan Scrutiny 
    Wall Street Journal 26 Sep 2013
    State regulators are trying to rein in payday loans by pressuring lenders to submit customer information to state databases. Alabama became the most recent state to call for a database, following similar proposals in California, Pennsylvania, and other areas.
  • CFPB Takes Aim at Sallie Mae for Student Loan Servicing 
    Huffington Post 24 Sep 2013
    The Consumer Financial Protection Bureau (CFPB) is criticizing the Department of Education’s preferred companies for servicing its $1 trillion in student loans, underscoring potentially poor customer service.
  • Chase Scraps Joint Credit Cards 
    CNN Money 24 Sep 2013
    In a move likely to be copied by other banks, Chase has announced it will no longer allow customers to open joint credit cards -- a popular option for couples sharing the responsibility of repayment.
  • Regulators Tell Banks That Reporting Elder Abuse Doesn't Violate Privacy Laws 
    Cleveland Plain Dealer 24 Sep 2013
    The Consumer Financial Protection Bureau, along with half a dozen other federal regulators, issued guidelines on Sept. 24 reaffirming that reporting suspected financial abuse is not a breach of privacy laws.
  • Big Banks, Big Complaints: CFPB’s Database Reveals Trends 
    The Financial Brand 24 Sep 2013
    U.S. consumers have lodged almost 19,000 gripes against banks and credit unions since the creation of the Consumer Financial Protection Bureau’s public Consumer Complaints Database.
  • CFPB Leader Not Backing Down on Lending Discrimination Cases 
    Housing Wire 24 Sep 2013
    Without intervention by the U.S. Supreme Court, the Consumer Financial Protection Bureau (CFPB) will continue to hold up disparate impact as the appropriate legal theory to use in filing lending bias cases against banks.
  • Jackson, Miss. Puts Resident on Direct Dial to CFPB 
    Reverse Mortgage Daily 22 Sep 2013
    Jackson, Miss., has become the second city to launch a direct phone partnership with the Consumer Financial Protection Bureau (CFPB).
  • Regulator Bars Employers From Requiring Pay on Debit Cards 
    Wall Street Journal 18 Sep 2013
    The Consumer Financial Protection Bureau (CFPB) said Thursday that employers cannot require that workers receive paychecks on debit cards, and that employees must be given other options. The cards have been lambasted by consumer advocates, New York's attorney general, and U.S. lawmakers.
  • Americans Agree on Regulating Wall Street 
    U.S. News & World Report 17 Sep 2013
    On the fifth anniversary of the financial meltdown, the Center for Responsible Lending and Americans for Financial Reform jointly released the results of a nationwide survey of likely voters conducted earlier this summer by Lake Research Partners.
  • Cordray Says Lenders Ready for Compliance With Mortgage Rule 
    Bloomberg 17 Sep 2013
    Cordray Says Lenders Ready for Compliance With Mortgage Rule
  • Capital One to Refund $150 Million to Credit Card Customers 
    Los Angeles Times 18 Jul 2012
    In the Consumer Financial Protection Bureau's first major enforcement action since the agency went live last July, it has ordered Capital One Bank to refund $140 million to credit card consumers for questionable marketing of add-on products. At the same time, the federal Office of the Comptroller of the Currency hit Capital One with its own $10 million consent order tied to unfair billing practices from May 2002 to June 2011, for total refunds of $150 million. Additionally, Capital One must pay $60 million combined in civil penalties for the practices. CFPB director Richard Cordray said the bank's call center operators tricked customers with low credit scores or credit limits into buying "products they didn't understand, didn't want, or in some cases, couldn't even use" -- such as payment protection and credit monitoring -- when they activated their credit cards. As part of the consent orders, Capital One has agreed to refund the full amount of add-on products, plus interest, to customers who enrolled in them or tried unsuccessfully to cancel them on or after Aug. 1, 2010. Finance charges and other associated fees will be refunded as well. "We are putting companies on notice that these deceptive practices are against the law and will not be tolerated," Cordray declared.
Items 1 - 20 of 132  1234567Next