Consumer Financial Protection Bureau News

CONSUMER FINANCIAL PROTECTION BUREAU: Bureau Of Consumer Financial Protection Settles With Defendants In Hydra Group Payday Lending Case

By Press release submission | Aug 16, 2018

A federal district court in the Western District of Missouri entered an Order effectuating a settlement between the Bureau of Consumer Financial Protection (Bureau) and Richard Moseley, Sr., Richard Moseley, Jr., and 20 interrelated corporate entities controlled by Moseley, Sr. and Moseley, Jr., in the Bureau’s lawsuit regarding the unlawful origination and servicing of short-term, small-dollar online loans to consumers nationwide.

CONSUMER FINANCIAL PROTECTION BUREAU: Bureau of Consumer Financial Protection Updates Regulation P To Implement Legislation Amending Gramm-Leach-Bliley Act

By Press release submission | Aug 16, 2018

The Bureau of Consumer Financial Protection (Bureau) finalized amendments to implement legislation that allows financial institutions that meet certain requirements to be exempt from sending annual privacy notices to their customers.

14-state coalition challenges Consumer Financial Protection Bureau's constitutionality

By Marian Johns | Aug 6, 2018

AUSTIN — Texas is leading a 14-state coalition that recently filed a "friend-of-the-court" brief challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB).

CONSUMER FINANCIAL PROTECTION BUREAU: Bureau of Consumer Financial Protection Settles With TCF National Bank

By Press release submission | Jul 29, 2018

Bureau of Consumer Financial Protection (Bureau) filed in federal district court a proposed settlement with TCF National Bank regarding its marketing and sale of overdraft services.

Triton Management Group agrees to settle allegations of failing to disclose finance charges in ads

By Marian Johns | Jul 24, 2018

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau recently resolved its allegations against a small-dollar lender who failed to disclose finance charges in its advertisements.

National Credit Adjusters settles allegations of unlawful debt collection

By Marian Johns | Jul 24, 2018

WASHINGTON (Legal Newsline) — National Credit Adjusters LLC (NCA) has reached a settlement with the Consumer Financial Protection Bureau (CFPB) over allegations it violated the Consumer Financial Protection Act and the Fair Debt Collection Practices Act.

CONSUMER FINANCIAL PROTECTION BUREAU: Bureau Settles With National Credit Adjusters, LLC and Bradley Hochstein

By Press release submission | Jul 18, 2018

Bureau of Consumer Financial Protection (Bureau) announced a settlement with National Credit Adjusters, LLC (NCA), a privately-held company headquartered in Hutchinson, Kansas, and its former CEO and part-owner, Bradley Hochstein.

Citibank, consumer board reach $335 million agreement to settle credit card claim

By Marian Johns | Jul 10, 2018

WASHINGTON, D.C. — Citibank has reached a $335 million agreement with the Consumer Financial Protection Bureau to settle claims the company violated the Truth in Lending Act for not re-evaluating and reducing annual percentage rates for 1.75 million of its consumer credit card accounts.

Consumer board reaches $5 million settlement with South Carolina business in debt collection case

By Marian Johns | Jun 28, 2018

WASHINGTON, D.C. — The Consumer Financial Protection Bureau has reached a $5 million settlement with a South Carolina business and its' subsidiaries regarding allegations of improper debt collection and credit furnishing practices.

New York leads coalition urging consumer board to keep public database of consumer complaints

By Mark Iandolo | Jun 11, 2018

NEW YORK (Legal Newsline) — New York Attorney General Barbara D. Underwood announced June 5 that she is leading a coalition of 14 attorneys general in drafting a letter to the Consumer Financial Protection Bureau (CFPB), urging it to keep its public database of consumer complaints.

Maryland judge bars individual from mortgage industry after allegedly violating order

By Mark Iandolo | Jun 1, 2018

BALTIMORE, Md. (Legal Newsline) – Maryland Attorney General Brian E. Frosh announced May 21 that Gary L. Klopp, an executive in the mortgage industry, has been barred from the industry for two years and ordered to pay $525,000 by U.S. District Judge Richard Bennett.

Financial services companies sue Consumer Financial Protection Bureau over payday loan rule

By Kyla Asbury | May 24, 2018

AUSTIN, Texas (Legal Newsline) – Two financial service companies are suing the Consumer Financial Protection Bureau (CFPB) and its acting director over allegations the agency is "virtually eliminating" payday loans.

Companies in immigration bond business seek summary judgment in CFPB suit

By Amanda Thomas | May 22, 2018

WASHINGTON (Legal Newsline) – Two Virginia companies that are attempting to block an investigation by the Consumer Financial Protection Bureau have filed a motion for summary judgment.

California attorney general leads coalition trying to protect CFPB's investigative authority

By Mark Iandolo | May 7, 2018

SACRAMENTO, Calif. (Legal Newsline) — California Attorney General Xavier Becerra announced April 26 he is leading a coalition of 16 attorneys general in protecting the investigative authority of the Consumer Financial Protection Bureau (CFPB).

Third-party litigation funding a topic of discussion at plaintiffs lawyer seminar

By John Breslin | Apr 17, 2018

LAS VEGAS (Legal Newsline) – Plaintiff lawyers and those in legal marketing and funding businesses gathered last week in Las Vegas for an annual mass tort conference.

Consumer board seeks comments, information about financial education programs

By Mark Iandolo | Apr 16, 2018

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced April 4 that it is seeking comments and information from interested parties about the overall efficiency and effectiveness of its consumer financial education programs.

New leadership at the CFPB means state AGs will be more active in financial consumer protection

By Karen Kidd | Apr 10, 2018

WASHINGTON (Legal Newsline) – Some states will be even more active in financial consumer protection enforcement now that the Consumer Financial Protection Bureau's new director has made it clear the bureau will stay out of the way, an expert on state attorneys general said during a recent interview.

FTC, CFPB report to Congress on efforts to halt illegal debt collection schemes

By Mark Iandolo | Mar 28, 2018

WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) announced March 20 that they have released a report detailing their 2017 activities to protect consumers from illegal debt collection schemes.

Consumer board seeks comments on how it conducts rulemaking process

By Mark Iandolo | Mar 19, 2018

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced March 7 that it has issued a request for information (RFI) about the way it conducts its rulemaking process, and it is seeking comments from businesses and the general public.

Consumer board seeks public comments analyzing method for reporting complaints

By Mark Iandolo | Mar 19, 2018

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced March 1 that it has issued a request for information (RFI) to secure public comments about how the bureau conducts its public reporting of consumer complaints.

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