The Consumer Finance Protection Bureau (CFPB) says it’s taking action against improper automobile repossessions. The regulator on Monday (Oct. 7) released findings in its investigation into illegal practices in the auto finance world, including lenders repossessing cars after they’ve made payments or gotten extensions on...
With remittances, when in doubt, check it out. But don’t head straight to the regulators. That seems to be the message conveyed by the Consumer Financial Protection Bureau (CFPB), which on Friday (Sept. 20) issued a proposed rule with what it termed “a narrow amendment...
The Consumer Financial Protection Bureau (CFPB) will soon propose a rule that would apply privacy protections to data brokers, CFPB Director Rohit Chopra said Thursday (Sept. 19). In remarks prepared for delivery at the Aspen Institute, Chopra said this proposed rule would give consumers more...
The Consumer Financial Protection Bureau (CFPB) sued Horizon Card Services and its CEO Robert Kane Friday (Sept. 13). The CFPB alleged that the company used deceptive marketing, charged illegal and excessive fees, and made it unreasonably difficult for consumers to cancel memberships and obtain refunds,...
The Consumer Financial Protection Bureau (CFPB) ordered TD Bank to pay about $28 million in redress and penalties, saying the bank provided consumer reporting agencies with information about its customers that was inaccurate and negative. A CFPB investigation determined that TD Bank repeatedly gave these...
The Consumer Financial Protection Bureau (CFPB) has found that debt collectors are using illegal tactics, and it is taking steps to ensure they follow consumer financial protection laws. The regulator said this in a Thursday (Sept. 5) press release announcing findings from its annual report on debt collection,...
The Consumer Financial Protection Bureau (CFPB) is seeking public comment on Apple’s recently announced rules governing how financial companies and app developers offer tap-to-pay functionality on its devices. “The CFPB is working to better understand further details about Apple’s announcement to determine whether it is a meaningful...
The Consumer Financial Protection Bureau (CFPB) rule requiring lenders to gather demographic information about small business borrowers has leapt another legal hurdle. A federal judge rejected a banking industry-backed challenge that argued that the rule’s data collection method was flawed, Reuters reported Monday (Aug. 26). U.S. District...
The Consumer Financial Protection Bureau (CFPB) launched a beta platform for the small business lending data collection rule under section 1071 of the Dodd-Frank Act. “We invite the participation of financial institutions and their technology partners to test the beta platform and share feedback with...
