All CFPB articles – Page 10
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Blog
Latest CFPB defense focuses on military families, veterans
The latest angle in the fight to preserve the Consumer Financial Protection Bureau: safeguarding military families and veterans.
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Blog
CFPB will reassess remittance rule
The Consumer Financial Protection Bureau is reaching out to the public as it assesses the effectiveness of remittance rules made effective in 2013.
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Blog
Justice Dept. joins fight against ‘unconstitutional’ CFPB
Friend has turned foe as the Justice Department, under the Trump Administration, has reversed course and is now arguing that the CFPB is unconstitutional.
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Blog
CFPB pitches date extension for prepaid accounts rule
The CFPB is looking to delay the effective date of a recent rule governing prepaid accounts by six months. The rule requires financial institutions to limit consumers’ losses when funds are stolen or cards are lost and resolve errors.
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Blog
CFPB levies its largest ever mortgage reporting penalty
With its largest ever penalty under the Home Mortgage Disclosure Act, the CFPB has ordered Texas-based Nationstar Mortgage to pay a $1.75 million civil penalty.
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Blog
Congress targets extractive payments, CFPB, and government conflicts
Democrats and Republicans alike are pushing legislation that could greatly affect regulators and regulations. Among the efforts is a Republican-led effort to kill the SEC’s extractive payments rule, writes Joe Mont.
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Blog
House Republicans claim CFPB’s auto lending rule is illegal
As they stockpile ammunition in their efforts to remove CFPB Director Richard Cordray, House Republicans are claiming that recent auto lending rules by the Bureau are illegal. Joe Mont has more.
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Blog
CFPB highlights debt collection complaint statistics
With a slate of rules targeting the industry in the pipeline, the Consumer Financial Protection Bureau has released a tally of consumer complaints related to debt collection. More from Joe Mont.
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Blog
CFPB warns financial companies about sales incentives
The CFPB is warning the financial world to be leery of sales quotas that can lead to consumer harm and legal violations. Joe Mont has more on a bulletin from the Bureau that addresses best practices for a targeted compliance monitoring program.
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Article
What President Trump means for regulation and regulators
A Trump administration promises to roll back the SEC, the CFPB, Dodd-Frank, and Obamacare. But that is all much easier said than done, reports Joe Mont.
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Blog
A gut-punch for the CFPB: Court rules independent director is unconstitutional
A 2-1 ruling by a judicial panel of the U.S. Court of Appeals for the D.C. Circuit says that the Consumer Financial Protection Bureau, as currently composed, is unconstitutional. Joe Mont has more.
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Blog
CFPB extends its reach to prepaid products
Joe Mont looks at new CFPB rules for prepaid financial products—including innovative online and mobile offerings from PayPal, Google, and Apple—that will require enhanced customer protections.
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Blog
CFPB updates exam procedures for Military Lending Act
The Consumer Financial Protection Bureau has announced the procedures its examiners will use when identifying consumer harm and risks related to the Military Lending Act. Joe Mont has more.
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Article
Wells Fargo CEO faces bipartisan furor
You know you are having a horrible week when complaints against your company unite Democrats and Republicans, but that’s exactly what Wells Fargo CEO John Stumpf faced
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Article
Debate over CFPB’s arbitration rule intensifies in comment letters
The CFPB has received some 13,000 comments in a fierce debate over its proposed rule to limit the use of binding arbitration for resolving disputes associated with financial products. Joe Mont explores.
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Blog
CFPB slams Wells Fargo with its largest ever fine
Is the Wells Fargo Wagon a-comin’ down an ethical street? The banking giant has been hit with the largest fine ever ($185M) by the Consumer Financial Protection Bureau in addition to terminating 5,300 employees and redoubling efforts to establish an ethical culture. Joe Mont reports.
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Article
CFPB winds down summer with flurry of rulemaking
Perhaps clearing its plate before November’s elections, the Consumer Financial Protection Bureau has cranked out a variety of rules, proposed rules, and amendments to rules in recent days. Joe Mont looks at what’s next on the agenda.
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ArticleOn its fifth anniversary, CFPB is as controversial as ever
The Consumer Financial Protection Agency may be the most polarizing government agency ever created. It’s also one of the most resilient, given its perseverance in the face of political and legal attacks. Its ultimate fate, despite its successes, may depend on two separate challenges to its constitutionality winding their way ...
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Blog
CFPB proposes slate of payday loan rules
A rule proposed on June 2 by the Consumer Financial Protection Bureau includes its toughest attack yet on payday and title loans. Proposed requirements include a “full-payment” test requiring lenders to determine upfront that consumers can afford to repay what they borrow. Joe Mont has more.
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Article
Seeking to squash mandatory arbitration, CFPB proposal draws praise and venom
The Consumer Financial Protection Bureau is moving ahead with a proposed rule that will prohibit mandatory arbitration clauses. While proponents agree with the Bureau’s assertion that class-action lawsuits provide a more effective means for consumers challenging problematic practices, pro-business groups see the rule as a deathblow for financial services arbitration ...