Tag Archives: Rohit Chopra

CFPB Launches RFI to Improve Customer Service at Big Banks

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In conjunction with a town hall held in Great Falls, Mont., yesterday, the Consumer Financial Protection Bureau announced it is seeking input from the public regarding how consumers can “assert their rights” to better the customer service provided by big banks, an area of enforcement that the Bureau has largely …

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CFPB Opens Inquiry Into Employer-Driven Debt

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The Consumer Financial Protection Bureau yesterday announced it has opened an inquiry and is soliciting information from the public regarding debts that are owed by employees to their employers, often through requirements that employees pay for equipment, training, or other supplies. A copy of the announcement can be accessed by …

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CFPB Revives ‘Dormant’ Rule to Regulate ‘Risky’ Nonbanks

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 …

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CFPB, NY AG Sue ‘Repeat Offender’ MoneyGram as Company Vows Not to be ‘Strong-Armed’

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 …

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CFPB Releases Annual FDCPA Report

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 …

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CFPB ‘Cautiously Optimistic’ About Medical Debt Credit Reporting Changes, But Chopra Questions Whether CRAs Went Far Enough

While expressing cautious optimism for “certain aspects” of the recent announcements from the three major credit reporting agencies regarding how they will handle medical debts, Rohit Chopra, the Director of the Consumer Financial Protection Bureau raised a number of issues and continued to ramp up the rhetoric with respect to …

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