Category: CFPB

The Consumer Financial Protection Bureau (CFPB) serves as a watchdog over financial institutions, aiming to protect consumers in the realms of banking, lending, and financial products. Established in response to the 2008 financial crisis, its mandate encompasses enforcing consumer protection laws, regulating financial institutions, and providing resources for consumer education. The CFPB oversees a wide array of financial products and services, ensuring they are fair, transparent, and accessible to consumers. Its responsibilities include investigating consumer complaints, monitoring financial markets for deceptive practices, and issuing regulations to promote fair competition and consumer welfare.

CFPB-PR-240305-2

CFPB-PR-240305-2 Date Released: March 5, 2024 Headline: CFPB-PR-240305-2 – CFPB Bans Excessive Credit Card Late Fees, Lowers Typical Fee from $32 to $8 Loophole – Final rule closes 2010 loophole exploited by credit card giants Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) finalized a rule today to cut excessive credit card late […]

CFPB-PR-240305-1

CFPB-PR-240305-1 Date Released: March 5, 2024 Headline: CFPB-PR-240305-1 – Statement of CFPB Director Rohit Chopra on the Final Rule to Close the Credit Card Late Fee Loophole Excerpt: The Consumer Financial Protection Bureau is taking action to rein in junk fees on credit cards, increase competition, and put billions of dollars back in the pockets […]

CFPB-PR-240229-1

CFPB-PR-240229-1 Date Released: February 29, 2024 Headline: CFPB-PR-240229-1 – CFPB Issues Guidance to Rein in Rigged Comparison-Shopping Results for Credit Cards and Other Financial Products – Manipulative advertisements and kickbacks undermine competition and can violate federal law Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a circular to law enforcement agencies […]

CFPB-PR-240228-1

CFPB-PR-240228-1 Date Released: February 28, 2024 Headline: CFPB-PR-240228-1 – CFPB Director Rohit Chopra Releases a Statement in Response to President Biden’s Executive Order To Protect Americans’ Sensitive Personal Data Excerpt: WASHINGTON, D.C. — Today, Consumer Financial Protection Bureau Director Rohit Chopra issued the following statement in response to President Biden’s Executive Order to protect Americans’ […]

CFPB-PR-240223-1

CFPB-PR-240223-1 Date Released: February 23, 2024 Headline: CFPB-PR-240223-1 – CFPB Orders Federal Supervision for Installment Lender Following Contested Designation Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today published an order establishing supervisory authority over installment lender World Acceptance. The CFPB is responsible for supervising a wide range of financial firms to ensure […]

CFPB-PR-240216-1

CFPB-PR-240216-1 Date Released: February 16, 2024 Headline: CFPB-PR-240216-1 – CFPB Issues Revised Supervisory Appeals Process – Streamlined rule details how financial institutions can appeal findings from supervisory examinations Excerpt: WASHINGTON, D.C. – The Federal Financial Institutions Examination Council today issued a statement of principles related to valuation discrimination and bias for member entities to consider […]

CFPB-PR-240212-1

CFPB-PR-240212-1 Date Released: February 12, 2024 Headline: CFPB-PR-240212-1 – FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending Excerpt: WASHINGTON, D.C. – The Federal Financial Institutions Examination Council today issued a statement of principles related to valuation discrimination and bias for member entities to consider in their consumer compliance […]

CFPB-PR-240208-1

CFPB-PR-240208-1 Date Released: February 8, 2024 Headline: CFPB-PR-240208-1 – CFPB Secures $12 Million From Ringleaders of Foreclosure Relief Scam – Long-running action against four attorneys and their company, Consumer First Legal Group, comes to an end Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced that it resolved an appeal in a […]

CFPB-PR-240124-1

CFPB-PR-240124-1 Date Released: January 24, 2024 Headline: CFPB-PR-240124-1 – CFPB Proposes Rule to Stop New Junk Fees on Bank Accounts – The proposed rule would prohibit non-sufficient funds fees on transactions declined right at the swipe, tap, or click Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) proposed today to block banks and […]

CFPB-PR-240119-1

CFPB-PR-240119-1 Date Released: January 19, 2024 Headline: CFPB-PR-240119-1 – CFPB and Seven State Attorneys General Sue Debt-Relief Enterprise, Strategic Financial Solutions, for Illegally Swindling More Than $100 Million from Financially Struggling Families Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) and seven state attorneys general sued Strategic Financial Solutions (SFS) and its web […]