Top News

CFPB wants Zero Parallel to comply with civil investigative demand

Louie Torres Dec. 7, 2016, 9:09am

LOS ANGELES (Legal Newsline) — The U.S. Consumer Financial Protection Bureau is suing a California business, alleging breach of contract and violation of federal law.

Consumer bureau warns financial companies of mismanaged employee incentive programs

Mark Iandolo Dec. 2, 2016, 8:52am

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) issued a bulletin Nov. 28 warning supervised financial companies that creating incentives for employees and service providers to meet sales and other business goals can lead to consumer harm if not properly managed.

Consumer bureau targets Access Funding for alleged lead-paint poisoning scam

Mark Iandolo Dec. 2, 2016, 8:50am

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced Nov. 21 the filing of a complaint in federal district court against Access Funding LLC, alleging the company conducted an illegal scheme to scam victims of lead-paint poisoning.

Wells Fargo wants plaintiffs in class action over sales practices to submit claims to arbitration

Jessica Karmasek Dec. 1, 2016, 4:36pm

The bank filed its motion to compel and a 16-page memorandum in support in the U.S. District Court for the District of Utah, Central Division, Nov. 23.

CFPB launches inquiry into challenges consumers face in using their financial records

Mark Iandolo Nov. 29, 2016, 9:24am

WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced Nov. 17 that it is launching an inquiry into the challenges consumers face in finding and securely sharing their financial records.

CFPB alleges Virginia pawnbroker's loans violate federal law

Wadi Reformado Nov. 22, 2016, 11:28pm

RICHMOND, Va. (Legal Newsline) – A federal agency alleges a Fredericksburg, Virginia, corporation failed to disclose certain terms on its contracts.

CFPB, Schneiderman team for lawsuit

Mark Iandolo Nov. 16, 2016, 9:48am

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced a lawsuit Nov. 2 filed in partnership with New York Attorney General Eric T. Schneiderman against the leaders of an allegedly massive debt collection scheme based in Buffalo, New York.

Consumer board releases Project Catalyst innovation report

Legal News Line Nov. 10, 2016, 11:48am

TOPEKA, Kan. (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) recently announced a report highlighting various market developments that have the potential to produce benefits for consumers.

CFPB details $11 million in supervisory actions for thousands of consumers in recent report

Legal News Line Nov. 8, 2016, 7:36am

WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced Oct. 31 a Supervisory Highlights report that shows how the agency’s recent supervisory actions have returned more than $11 million to more than 225,000 consumers allegedly harmed by college loan servicers.

Cordray letter about gender identity discrimination not a rule, former CFPB official says

Karen Kidd Nov. 3, 2016, 3:08pm

When Consumer Financial Protection Bureau (CFPB) Director Richard Cordray wrote a letter in August, giving the bureau's views about whether credit discrimination on the basis of gender identity and sexual orientation violates the Equal Credit Opportunity Act (ECOA), it prompted speculation.

D.C. Circuit's 'unusual' ruling says CFPB director can be fired

Karen Kidd Oct. 26, 2016, 10:34am

WASHINGTON (Legal Newsline) – An appeals court's ruling that the U.S. Consumer Financial Protection Bureau's structure is unconstitutional was surprising because of what it declared and for its language, two Washington, D.C.-based regulatory attorneys say.

Manhattan Institute: NLRB's stance on class action waivers wrong

Joe Dyton Oct. 26, 2016, 9:30am

WASHINGTON (Legal Newsline) - The National Labor Relations Board (NLRB) recently asked the U.S. Supreme Court to determine if arbitration agreements that prohibit employees from pursuing class or collective actions are unlawful under the National Labor Relations Act (NLRA) and unenforceable under the Federal Arbitration Act.

Navy Federal Credit Union to pay millions over allegations it made false threats to members

Mark Iandolo Oct. 20, 2016, 9:32am

WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced this week that it took action against Navy Federal Credit Union after allegations the organization used false threats about debt collection.

Consumer board alleges Prime Marketing Holdings illegally charged consumers

Mark Iandolo Oct. 19, 2016, 9:00am

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau has announced that it took action against Prime Marketing Holdings LLC, a credit repair company, suing for allegations the company charged consumers illegal advance fees.

Lead generators should be wary of federal oversight, CFPB legal specialist says

Karen Kidd Oct. 13, 2016, 1:21pm

WASHINGTON (Legal Newsline) – When set up properly, a consumer shouldn't notice it was a lead generator that connected them with a professional or service

Law professor: Consumer board justified in suit against payment processor

Robert Lawson Oct. 13, 2016, 11:35am

BISMARCK, N.D. — A pending District Court lawsuit may have broad implications for the entire payment processing industry, a third party and go-between for merchants and consumers. 

CFPB's class action ban likely to be challenged in court after finalized

Kristin Danley-Greiner Oct. 11, 2016, 10:15am

WASHINGTON (Legal Newsline) -- The Consumer Financial Protection Bureau (CFPB) has proposed a set of rules that would prohibit arbitration clauses designed to prevent class-action lawsuits on behalf of consumers.

Unnamed company wins ruling against Consumer Financial Protection Bureau

Dawn Geske Oct. 4, 2016, 4:40pm

A judge has ruled against the Consumer Financial Protection Bureau's efforts to release the identity of a John Doe company under investigation by the organization.

CFPB's victory over CashCall a win for consumers, expert says

Chad Birt Oct. 4, 2016, 3:06pm

A Los Angeles federal judge’s ruling against CashCall Inc. over alleged predatory lending practices is a win for consumers, an expert in responsible lending says.

Attorney: After five years, over-regulation by CFPB a concern

Kate Jacobson Sep. 30, 2016, 1:04pm

WASHINGTON (Legal Newsline) -- Five years after its inception, officials for the Consumer Finance Protection Bureau (CFPB) are looking back on its accomplishments.