For the Consumer Financial Protection Bureau (CFPB), the courts have been a hotbed of action, lawsuits, appeals and back-and-forth between lawyers. Almost everything boils down to the decision that will come down from the Supreme Court — a decision that will determine whether the agency can exist at all. In...
The Consumer Financial Protection Bureau (CFPB) said Thursday (May 9) that it will be monitoring credit card rewards programs and taking action as appropriate. This statement came as the agency released a report detailing consumers’ complaints about these programs. “Credit card companies promise upfront benefits...
Chime Financial will pay at least $1.3 million in redress to consumers and $3.25 million in penalties as part of a settlement with the Consumer Financial Protection Bureau (CFPB). The CFPB found that the nonbank company illegally delayed customer refunds when customers closed their accounts, withholding these balance...
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief. If entered by the court, the CFPB’s proposed stipulated final judgments would require the National Collegiate Student...
New government data shows 15 million Americans still have medical bills on their credit reports. That’s according to the Consumer Financial Protection Bureau (CFPB), which notes that these bills remain in spite of changes by the three major credit bureaus. Collectively, these Americans have more than $49 billion in...
America’s consumer finance watchdog is targeting “junk fees” in the mortgage industry. The Consumer Financial Protection Bureau (CFPB) published findings Wednesday (April 24) showing that mortgage servicers — the companies responsible for processing mortgage payments — had charged illegal fees, sent deceptive notices to homeowners and violated loss mitigation rules that...
The Consumer Financial Protection Bureau (CFPB) has issued an order against coding bootcamp BloomTech, also known as the Bloom Institute of Technology, and its CEO, Austen Allred, alleging that they deceived students about the real cost of loans and made false claims about the hiring rates of the bootcamp’s graduates. The...
Consumer protection officials for the United States and the European Commission have met to discuss three shared priorities: buy now, pay later (BNPL), digital payments and artificial intelligence (AI). The three meetings followed a July 2023 announcement by U.S. Consumer Financial Protection Bureau (CFPB) and...
America’s leading consumer watchdog is reportedly weighing a sweeping change to the title insurance industry. As Bloomberg News reported Wednesday (April 10), the Consumer Financial Protection Bureau (CFPB) is considering whether to forbid mortgage bankers from charging homeowners for title insurance, ending a long-held practice....
