CFPB Sues Pawn Lenders for Cheating Military Families
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in a Texas federal district court against FirstCash, Inc. and Cash America West, Inc. The CFPB alleges…
CFPB Seeks Input on Detecting Discrimination in Mortgage Lending
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to seek input on rules implementing the Home Mortgage Disclosure Act (HMDA). The CFPB…
Agencies Announce Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease Transactions
WASHINGTON, D.C. — The Federal Reserve Board and the Consumer Financial Protection Bureau today announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2022…
CFPB Research Shows Banks’ Deep Dependence on Overdraft Fees
WASHINGTON, D.C. — Banks continue to rely heavily on overdraft and non-sufficient funds (NSF) revenue, which reached an estimated $15.47 billion in 2019, according to research released today by the…
CFPB Issues Final Rule to Facilitate Transition from LIBOR
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes…
CFPB Report Highlights Supervisory Findings of Wide-Ranging Violations of Law in 2021
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a Supervisory Highlights report, which shines a light on legal violations identified by the CFPB’s examinations in the first…
Consumer Financial Protection Bureau Opens Inquiry Into “Buy Now, Pay Later” Credit
WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit. The orders to collect information…
CFPB Takes Action Against Access Funding and Its Leadership for Misleading Consumers with Structured Settlements
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took action against Access Funding and two executives for steering consumers considering signing away future structured settlement payments for lump…
CFPB and DOJ Put Landlords and Mortgage Servicers on Notice About Servicemembers’ and Veterans’ Rights
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) issued two joint letters today regarding important legal housing protections for military families. One letter…
CFPB Shutters Lending by VC-Backed Fintech for Violating Agency Order
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well…