Tag Archives: Rohit Chopra

Companies that collect medical debt were put on notice yesterday by the Consumer Financial Protection Bureau to make sure that the debts they are trying to collect are not prohibited under the recently enacted No Surprises Act. Collectors that attempt to collect debts that exceed the amount permitted under the …

The three major credit reporting agencies — Equifax, Experian, and TransUnion — are not treating consumers fairly, which is resulting in consumers suffering “serious harms,” according to a report issued yesterday by the Consumer Financial Protection Bureau. The report, along with pointing out how the three major bureaus are failing …

The Consumer Financial Protection Bureau announced yesterday that it is shining its regulatory spotlight on a growing form of credit in the financial services industry — Buy Now Pay Later (BNPL) companies — and sent inquiries to five of the major providers asking for information “to illuminate the range of …

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 …

Rohit Chopra, the Director of the Consumer Financial Protection Bureau, urged state Attorneys General to bring their own enforcement actions when they think federal laws have been broken, especially when federal law is stronger than a state statute, asking only that AGs give the CFPB a heads up before filing …

The Consumer Financial Protection Bureau yesterday put overdraft fees in its crosshairs yesterday, and already banks are responding by announcing they will no longer assess NSF fees when consumers spend more than they have in their bank accounts. Rohit Chopra, the Director of the CFPB, announced that the regulator is …

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 …

Mortgage servicers, your time is up. The 18 months that you have been given to adjust your operations in order to work with individuals who have been affected by the COVID-19 pandemic and “develop robust business continuity and remote work capabilities” are enough that state ad federal regulators have come …

A number of leading Senate Democrats are calling on Rohit Chopra and the Consumer Financial Protection Bureau to “take concrete steps to reform the credit reporting industry,” including improving the accuracy of credit reports and streamlining the dispute resolution process. The Senators, including. Sen. Sherrod Brown [D-Ohio], the chairman of …

After announcing last month that it was going to investigate how big tech giants like Google and Apple use the payment information they collect from consumers, the Consumer Financial Protection Bureau has opened a comment period allowing anyone to submit their thoughts, opinions, and questions to inform the regulator’s inquiry. …