Consumer Financial Protection Bureau Director Rohit Chopra took note during his Wednesday appearance before the Senate Banking Committee that companies including PayPal and JPMorgan are monetizing customers’ financial data — warning the country is moving toward an age of “financial surveillance.” The focus of the...
House Financial Services Committee (HFSC) Chairman Patrick McHenry, R-N.C., condemned a proposed rule announced Tuesday (June 11) by the Consumer Financial Protection Bureau (CFPB), saying it would upend the American credit and healthcare systems. McHenry’s statement came in response to the CFPB’s announcement that with...
Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and the House Financial Services Committee Thursday (June 13) to present “The Semi-Annual Report of the...
The Consumer Financial Protection Bureau — with the wind of the recent Supreme Court ruling at the agency’s back — has returned to rule-making. This time around, buy now, pay later (BNPL) firms are in the Bureau’s sights — but could it be a case...
June 10, 2024
Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and the House Financial Services Committee Thursday (June 13) to present “The Semi-Annual Report of the Consumer Financial Protection Bureau.” But there’s a chance that the […]
January 04, 2024
The calendar has barely turned to a new year — and the Consumer Financial Protection Bureau (CFPB) has already had a fair share of criticism. The most recent volley against...
October 19, 2023
The Consumer Financial Protection Bureau’s open banking rule is a rough draft. And much may change between the Thursday (Oct. 19) announcement of its new open banking proposal and what...
June 14, 2023
At the latest hearing focused on the Consumer Financial Protection Bureau, things got heated even before Director Rohit Chopra uttered a word. At the Wednesday (June 14) hearing before the...
June 11, 2024
House Financial Services Committee (HFSC) Chairman Patrick McHenry, R-N.C., condemned a proposed rule announced Tuesday (June 11) by the Consumer Financial Protection Bureau (CFPB), saying it would upend the American credit and healthcare systems. McHenry’s statement came in response to the CFPB’s announcement that with its proposed rule, it seeks to ban medical bills from […]
May 22, 2024
The Consumer Financial Protection Bureau (CFPB) ruled Wednesday (May 22) that buy now, pay later (BNPL) vendors are credit card providers and must provide some key legal protections and rights...
May 20, 2024
The Consumer Financial Protection Bureau (CFPB) is looking to improve “competition, choice and affordability” in credit reporting costs and other mortgage closing costs. In prepared remarks for a speech at a Mortgage Bankers Association conference, CFPB Director Rohit Chopra said...
May 09, 2024
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...
