Tag Archives: CFPB

The Consumer Financial Protection Bureau yesterday announced the members for its three advisory boards, including the Consumer Advisory Board, which is tasked with identifying and assessing the impact of emerging products, practices, or services on consumers and other market participants. Of the 11 members named to the CAB, only one …

The Consumer Financial Protection Bureau announced yesterday that it will begin accepting applications from individuals who would like to participate in one of its four advisory committees, including the Consumer Advisory Board. Applications will be accepted starting July 5 and must be submitted before July 24. The committee that is …

Any debt collectors still charging convenience fees or other fees to consumers that are not covered in the contract between the consumer and the original creditor are breaking the law and may be subject to lawsuits from consumers and regulatory scrutiny from the Consumer Financial Protection Bureau, the agency announced …

The Consumer Financial Protection Bureau yesterday announced it was replacing its Office of Innovation with a new Office of Competition and Innovation that aims to “spur” innovation in the financial services industry by promoting competition and making it easier for “new market entrants.” The Office of Innovation was created back …

The Consumer Financial Protection Bureau issued its latest Supervisory Highlights report yesterday, which offers violations uncovered by the regulator during supervisory exams that were conducted during the second half of 2021. The report spotlighted problem areas, including wrongful auto repossessions and failures to conduct reasonable investigations when consumers dispute debts, …

The Consumer Financial Protection Bureau has issued a procedural rule to expand its supervision over nonbank entities that the regulator “has reasonable cause to determine pose risks to consumers” and is seeking comment on reviving the rule, which has been “dormant” and unused for a number of years. Initially invoked …

Continuing to fulfill its commitment to going after repeat offenders, the Consumer Financial Protection Bureau — in partnership with the Attorney General of New York — yesterday announced a lawsuit against MoneyGram Payment Systems for “systematically and repeatedly violating” consumer protection laws by failing to deliver funds promptly and failing …

I have no proof of this, but my gut tells me that Rohit Chopra is a pretty good chess player. All the proof I need are the press releases that the Consumer Financial Protection Bureau has been issuing over the past couple of months. To me, those releases are the …

An interesting battle is brewing between the Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp. that spewed out into the public last week, indicating that the regulators might not be on the same page and is being labeled as a “remarkable breakdown in trust.” Like many regulators, the …

One of the new shows I have watched and enjoyed recently is “Dopesick,” a limited series about the opioid crisis and how the drug was sold by its manufacturer. The series details a number of situations where individuals working for branches of the federal government end up working for the …