Tag Archives: Consumer Financial Protection Bureau

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 …

The Consumer Financial Protection Bureau yesterday released a report spotlighting the financial challenges facing individuals living in rural communities, representing about 14% of the total population of the United States, are far more likely to conduct their banking in person than they are over the phone or online even though …

The Consumer Financial Protection Bureau is calling on policymakers to examine whether the Fair Debt Collection Practices Act should be broadened to protect not just consumers but small businesses, according to its annual report on the FDCPA that it submitted to Congress last week. Small businesses can be just as …

Days after publishing a report illustrating the amount of late fees credit card issuers are charging consumers, a published report revealed that the Consumer Financial Protection Bureau is planning to “ramp up” enforcement actions in situations where late fees are being illegally charged while also issuing new regulations that would …

The Consumer Financial Protection Bureau has issued a rule that will make it easier for engaging in enforcement actions via administrative proceedings — similar to how the Federal Trade Commission operates — rather than having to pursue enforcement actions in federal court, according to a published report. The change also …

The Consumer Financial Protection Bureau announced yesterday that it wants to make it easier for John Q. Public to get new rules enacted or current rules changed, while requiring lobbyists and others “who are paid to influence the agency’s rulemaking agenda behind the scenes” to have their petitions vetted by …

As part of its crackdown on what it calls “junk” fees, the Consumer Financial Protection Bureau yesterday issued a compliance bulletin to companies that distribute government payments to consumers via debit cards, making sure they are not running afoul of the Electronic Funds Transfer Act (EFTA) by not forcing consumers …

The canary didn’t make it. Less than a week after publishing a blog post noting that consumers spend $120 billion annually on credit card interest and fees every year, the Consumer Financial Protection Bureau yesterday announced it had published a Request for Information on what it calls “exploitative junk” fees …

The Consumer Financial Protection Bureau has published its latest Supervisory Highlights report, which “shines a light on legal violations” identified during CFPB examinations that were conducted during the first half of 2021 as well as publicizing prior supervisory findings that led to public enforcement actions during that timeframe. By and …

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 …