Consumer Financial Protection Bureau
U.S. Government |
Federal Agencies
1700 G St NW, Washington, DC 20006
Recent News About Consumer Financial Protection Bureau
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LITTLE ROCK, Ark. (Legal Newsline) – Arkansas Attorney General Leslie Rutledge has released comments about the Consumer Financial Protection Bureau’s (CFPB) decision to move forward with federal standards and limitations on credit lines, installment loans, deposit advances, automobile-title secured loans and payday loans.
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FARGO, N.D. (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has announced Intercept Corporation and company executives Bryan Smith and Craig Dresser have been charged with allegedly enabling unauthorized withdrawals from consumer accounts.
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WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced that it took action against former Wells Fargo employee David Eghbali for an alleged illegal mortgage fee-shifting scheme.
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The Consumer Financial Protection Bureau has proposed a set of rules prohibiting arbitration clauses that prevent class action lawsuits on behalf of consumers -- a contentious proposal that has parties on both sides speaking out.
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WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau is pointing to a cartoon featuring a man using a gun that was sent in an email as it pursues litigation against two businesses.
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FARGO, N.D. (Legal Newsline) - A payroll processing company is suing the Consumer Financial Protection Board, alleging its director has unconstitutional power.
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Defense attorney Matt Stromquist joins academics, industry and federal lawmakers in criticizing the Consumer Financial Protection Bureau’s set of proposed rules prohibiting mandatory arbitration clauses that prevent class action lawsuits and the study upon which they’re based. Stromquist also takes issue with how arbitration has been depicted in recent months.
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WASHINGTON (Legal Newsline) – Arkansas Attorney General Leslie Rutledge announced that she has asked Richard Cordray, the director of the Consumer Financial Protection Bureau (CFPB) to hold a conference of states to discuss the ideas in the March 26 outline of potential new standards and limitations on credit lines, installment loans, deposit advances, automobile-title secured loans and payday loans.
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WASHINGTON (Legal Newsline) — If the federal court of appeals in Washington, D.C., rules that the Consumer Financial Protection Bureau’s structure is unconstitutional, it could throw pending litigation and previous decisions by the agency into question.
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WASHINGTON (Legal Newsline) – As the Consumer Financial Protection Bureau faces allegations of unequal pay for its minority employees, a national committee that monitors such cases says the CFPB needs to look hard at its practices before the situation gets worse.
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The House Financial Services Committee has launched an investigation into the Consumer Financial Protection Bureau’s proposed regulation of pre-dispute arbitration agreements, requesting various information from the bureau.
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The Consumer Financial Protection Bureau’s release of its set of proposed rules coincided with a field hearing held in New Mexico Thursday. Under the bureau’s proposal, companies would still be able to include arbitration clauses in their contracts. However, for contracts subject to the proposal, the clauses would have to say explicitly that they cannot be used to stop consumers from being part of a class action in court.
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The Consumer Financial Protection Bureau announced last week it plans to hold a third field hearing May 5 on the rules banning the arbitration clauses that prevent class action lawsuits.
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WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) filed complaints in federal court against the two co-founders of T3Leads, alleging the defendants resold loan applications that contained sensitive personal data to lenders without assessing the source of the leads.
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WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) released a report that details the steep, hidden costs to online payday loans that come when online lenders debit payments from a consumer’s checking account.
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WASHINGTON (Legal Newsline) - The Consumer Financial Protection Bureau says it is working with those who offer construction loans to ensure its new "Know Before You Owe" rule is implemented smoothly.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has announced an interim final rule broadening the provisions for small creditors that operate in rural and under-served areas.
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WASHINGTON (Legal Newsline) - The facts leading to $100,000 in fines were not on the side of the first company targeted by the Consumer Financial Protection Bureau over data privacy concerns, a Reed Smith attorney says.
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Though initially heralded as a consumer voice that would restrain deceptive and abusive business practices, the Consumer Financial Protection Bureau has come under increasing fire from critics, with one George Mason University law professor concluding that the bureau’s complaint database serves no coherent regulatory purpose.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has announced that a federal district court entered a final judgment against Morgan Drexen that resolves allegations the company charged illegal upfront fees and deceived consumers.