Tag Archives: CFPB

Bill Introduced to Curb Salaries at CFPB

A bill has been introduced in the Senate that seeks to “increase accountability” at the Consumer Financial Protection Bureau by aligning the pay of its employees with that of other employees working in the federal government. S.1227, The CFPB Pay Fairness Act of 2021 was introduced by Sen. John Kennedy …

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CFPB Issues NPRM Seeking to Halt Foreclosures Until 2022

The Consumer Financial Protection Bureau yesterday issued a Notice of Proposed Rulemaking (NPRM) that would prohibit mortgage servicers from starting foreclosure proceedings until 2022 while also providing servicers with the ability to offer streamlined loan modification options to homeowners who have been impacted by the COVID-19 pandemic. The NPRM follows …

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CDC Extend Eviction Ban; CFPB & FTC Directors Vow Crackdown

On the day that the Centers for Disease Control and Prevention extended an eviction moratorium until June 30, the acting directors of the Consumer Financial Protection Bureau and the Federal Trade Commission issued a joint statement saying that they will use the Fair Debt Collection Practices Act to ensure that …

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CFPB Releases Annual Complaint Report

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Complaints about debt collectors filed by consumers with the Consumer Financial Protection Bureau increased 10% in 2020 compared with 2019, ranking the industry only behind credit or consumer reporting in terms of the total number of complaints that were filed last year, a year in which the total number of …

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CFPB Rescinds Policy on Identifying Abusive Acts or Practices

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The Consumer Financial Protection Bureau yesterday rescinded restrictions put in place by the previous leadership that established a two-part test to determine whether a company had engaged in abusive acts or practices, saying it intends to “exercise its supervisory and enforcement authority consistent with the full scope of its statutory …

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Online Lender Discloses CFPB Investigation Into Collection Practices

Opportun Inc., a unit of Opportun Financial Corp., a consumer finance lender that caters to Latino immigrants, disclosed yesterday that its lending and debt collection practices are being investigated by the Consumer Financial Protection Bureau as part of an apparent wider investigation into whether small dollar lenders have violated federal …

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