WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced Aug. 23 that action against two American Express banking subsidiaries accused of discriminating against consumers in Puerto Rico, the U.S. Virgin Islands and other U.S. territories has resulted in $96 million in relief.
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced Aug. 4 that it has unveiled its new Know Before You Owe overdraft disclosure prototypes, which were created to improve the model form that banks and credit unions already provide to consumers weighing overdraft coverage.
Senate Obamacare repeal failures warning sign for business and banking communities on rescinding anti-arbitration rule
WASHINGTON (Legal Newsline) - Business and banking interests are working to ensure that an upcoming Senate attempt to rescind the Consumer Financial Bureau Protection’s (CFPB) anti-arbitration rule plays out differently than repeated failures by Senate Republicans to repeal any or all of Obamacare. And they are enlisting help on the state level to do it.
Consumer board settles with auto lender for $1.25 million after allegations of violating consent order
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced April 26 that it has ordered Security National Automotive Acceptance Company (SNAAC), an auto lender specializing in loans to service members, to pay $1.25 million and make good on a previous consent order after the company allegedly violated a CFPB consent order.
NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman announced April 5 that he has joined a coalition of attorneys general in urging Congress to oppose three resolutions that could strike down the Consumer Financial Protection Bureau’s (CFPB) Final Rule regarding prepaid cards.