Consumer Financial Protection Bureau
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Recent News About Consumer Financial Protection Bureau
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On Tuesday, the bank, no doubt feeling the pressure from federal lawmakers and others, announced that the independent directors of its Board of Directors have launched an investigation into Wells Fargo’s retail sales practices and related matters. CEO John Stumpf will forfeit his salary and awards -- valued at more than $41 million -- amid the independent investigation.
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WASHINGTON (Legal Newsline) — The Consumer Financial
Protection Bureau (CFPB) has filed lawsuits against five title lenders in
Arizona – Auto Cash Leasing LLC, Interstate Lending LLC, Oasis Title Loans LLC, Phoenix Title Loans LLC and Presto Auto Loans Inc.
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WASHINGTON (Legal Newsline) – A recent press release from the Consumer Financial Protection Bureau doesn't represent the actual allegations to which a for-profit education company has settled, a Philadelphia attorney says.
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The federal lawmakers, in a letter sent to the head of the Consumer Financial Protection Bureau earlier this month, urged the bureau to consider including a provision in the final rule that allows financial companies to retain class action waivers in their arbitration clauses. Under the CFPB’s current proposal, companies would be prohibited from putting mandatory arbitration clauses in new contracts.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has taken action against Bridgepoint Education Inc., a for-profit college chain, for allegations of deceiving students into loans that cost more than advertised.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has announced a $100 million fine against Wells Fargo.
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WASHINGTON (Legal Newsline) - On Aug. 9, the U.S. Court of Appeals for the District of Columbia rejected a petition for review of a decision by U.S. Securities and Exchange Commission (SEC) administrative law judges.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) Student Loan Omsbudman has released a report about consumer complaints of servicing problems that make it difficult to lower their payments in relation to their income.
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WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced proposed updates to its Know Before You Owe mortgage disclosure rule.
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WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced leadership changes within the agency, including new employees at the following positions – associate director for supervision, enforcement, and fair lending; principal deputy general counsel; and deputy chief operating officer.
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A Wisconsin federal judge recently ruled that the owners of two law firms offering debt relief services may be held liable by the Consumer Financial Protection Bureau for allegedly violating federal consumer protection laws.
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The Consumer Financial Protection Bureau, an independent agency of the federal government responsible for consumer protection in the financial sector, published its proposal in the Federal Register on May 24, with a 90-day comment period. All comments were due no later than Monday.
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BOSTON (Legal Newsline) — Massachusetts Attorney General Maura Healey has announced she is leading a coalition of 17 states and the District of Columbia in supporting the Consumer Financial Protection Bureau’s (CFPB) proposed rule to limit the use of mandatory pre-dispute arbitration clauses in contracts for financial products and services.
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The Consumer Financial Protection Bureau (CFPB) recently outlined a set of proposals it is considering as part of a plan to overhaul the debt collection market — capping collector contact attempts and helping ensure companies collect the correct debt.
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The Consumer Financial Protection Bureau (CFPB) announced that Santander Bank N.A. will pay $10 million for its alleged illegal overdraft service practices.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has announced it has proposed to implement recent congressional legislation allowing certain financial institutions to be exempt from sending annual privacy notices to consumers.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has announced its supervisory actions in the first four months of 2016 revealed illegal auto finance and payment activity that led to close to $24.5 million in restitution to more than 257,000 consumers.
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WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) has announced annual adjustments to the dollar amounts of select thresholds existing within the Truth in Lending Act regulations. These regulations will take effect on certain consumer credit transactions in 2017.
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WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) recently released proposed new rules designed to regulate payday, automobile title and some high-cost installment loans in an effort to protect consumers from the financial woes associated with frequent loan and overdraft fees.
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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.