Tag Archives: CFPB

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The Consumer Financial Protection Bureau yesterday rescinded restrictions put in place by the previous leadership that established a two-part test to determine whether a company had engaged in abusive acts or practices,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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CFPB Announces First Enforcement Action Under New Leadership

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The post-Kraninger Consumer Financial Protection Bureau announced its first enforcement action yesterday, and while it might not directly relate to the accounts receivable management industry, there are a number of insights that the industry can and should glean from the news. In conjunction with the Attorneys General of Virginia, New …

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CFPB Puts Out Call Seeking to Hire More Attorneys

If anyone needed further proof that the Consumer Financial Protection Bureau is planning on ramping up its enforcement activities, one need not look any further than the post the Acting Director Dave Uejio posted yesterday, making an open call for any attorneys who might be interested in working in the …

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CFPB Investigating Venmo Over Collection Practices

The Consumer Financial Protection Bureau is investigating the debt collection practices of Venmo, the digital money transfer service operated by PayPal, the company announced on Friday in a regulatory filing. Venmo has received a Civil Investigative Demand from the CFPB on January 21, the day after former director Kathleen Kraninger …

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