Consumer Financial Protection Bureau Settles with Omni Financial of Nevada, Inc. for Violations of the Military Lending Act, Electronic Fund Transfer Act, and Consumer Financial Protection Act
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (Bureau) issued a consent order against Omni Financial of Nevada, Inc. (Omni). The Bureau found that Omni violated the Military Lending…
Consumer Financial Protection Bureau Issues Approval Order to Facilitate the Use of Dual Usage Credit Cards
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued a compliance assistance sandbox (CAS) approval order to Synchrony regarding their proposal to develop a “dual-feature credit card.” The card…
Consumer Financial Protection Bureau Issues an Approval Order to Facilitate Employee Access to Earned but Unpaid Wages
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued a compliance assistance sandbox (CAS) approval order to PayActiv regarding specific aspects of some of its earned wage access (EWA)…
Consumer Financial Protection Bureau’s Taskforce on Federal Consumer Financial Law Releases Its Report
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) Taskforce on Federal Consumer Financial Law (Taskforce) released a report today with recommendations on how to improve consumer protection in the…
Consumer Financial Protection Bureau and National Credit Union Administration Sign Memorandum of Understanding
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) and the National Credit Union Administration (NCUA) announced a Memorandum of Understanding (MOU) agreement to improve coordination between the agencies related…
Consumer Financial Protection Bureau Sues 1st Alliance Lending, LLC and Its Principals for Alleged Unlawful Mortgage Lending Practices
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly…
Consumer Financial Protection Bureau Issues Final Rule on the Role of Supervisory Guidance
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued today a final rule regarding the Bureau’s use of supervisory guidance for its supervised institutions. The rule codifies the statement,…
Consumer Financial Protection Bureau Issues Rule on Higher-Priced Mortgage Loan Escrow Exemption
WASHINGTON, D.C. – The Bureau of Consumer Financial Protection (Bureau) today issued a final rule to implement a requirement of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).…
Consumer Financial Protection Bureau Settles with LendUp Loans, LLC for Military Lending Act Violations
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (Bureau) filed a proposed settlement to resolve its December 4, 2020 lawsuit against LendUp Loans, LLC (LendUp) alleging violations of the…
Consumer Financial Protection Bureau Announces Partnerships with Communities Across the Country to Promote Financial Resiliency
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today announced that it will partner with seven communities across the country to help build financial resiliency among Americans. The partnerships,…