Consumer Financial Protection Bureau
U.S. Government: Agencies/Departments/Divisions | Federal Agencies
Recent News About Consumer Financial Protection Bureau
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Dwolla the target of first data security enforcement from CFPB
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. -
Law prof: CFPB database is government-sponsored Yelp
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. -
Court orders Morgan Drexen to pay $172 million for alleged consumer deception
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. -
Attorney expects CFPB to release new arbitration rules this year
WASHINGTON (Legal Newsline) - A recent speech given by Richard Cordray, the director of the Consumer Financial Protection Bureau, reinforced speculation that the CFPB will soon release new rules restricting the use of arbitration provisions in consumer agreements. -
CFPB seeks consumer input on online loan marketplaces
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced that it is accepting consumer complaints from those dealing with online loan problems. -
CFPB won't set aside info demand to J.G. Wentworth
WASHINGTON (Legal Newsline) — J.G. Wentworth will have to face a civil investigation demand after the director of the Consumer Financial Protection Bureau denied the company's petition to set it aside. -
CFPB takes action against Dwolla in data security case
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) has ordered online payment platform Dwolla Inc. to pay $100,000 and fix its security practices after allegations of deception. -
CFPB charges Citibank for two different alleged debt practices
WASHINGTON (Legal Newsline) — In two separate cases, the Consumer Financial Protection Bureau has taken action against Citibank due to allegations of illegal debt sales and debt collection practices. -
Indiana AG opposes new CFPB proposed rule
WASHINGTON (Legal Newsline) – Indiana Attorney General Greg Zoeller testified before the U.S. House Subcommittee on Financial Institutions opposing a new rule proposition from the Consumer Financial Protection Bureau (CFPB). -
Colorado used car dealer agrees to $700,000 settlement over alleged abusive financing practices
WASHINGTON (Legal Newsline)—Herbies Auto Sales in Greeley, Colorado will pay $700,000 in restitution to consumers because of allegations its financing schemes were abusive, the Consumer Financial Protection Bureau (CFPB) announced recently. -
Judge allows companies under investigation by CFPB to redact names from court files
A federal court in Washington D.C., has ruled that companies challenging a Civil Investigative Demand issued by the Consumer Financial Protection Bureau can redact their names from court filings. -
CFPB seeks public input on HMDA resubmission guidelines
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced that it would seek feedback from the public on the resubmission of mortgage lending data reported under the Home Mortgage Disclosure Act (HMDA). -
Consumer Financial Protection Bureau brings proposed consent order against Georgia law firm
WASHINGTON (Legal Newsline) – In a recent proposed consent order filed in federal court, the Consumer Financial Protection Bureau looks to resolve a lawsuit against Frederick J. Hanna & Associates over an alleged illegal debt collection lawsuit mill. -
T3Leads sued over alleged consumer financial violations
LOS ANGELES (Legal Newsline) – The U.S. agency that regulates the offering and providing of consumer-financial products and services is suing a consumer information aggregator and two of its chief officers over claims they didn't properly vet lead purchasers. -
EZCORP will pay $10 million over alleged illegal debt collection tactics
WASHINGTON (Legal Newsline) – EZCORP Inc., a small-dollar lender, will pay $10 million for alleged illegal debt collection tactics. -
Consumer Financial Protection Bureau brings cases against T3Leads, other company's owner
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) took action recently against T3Leads and Eric V. Sancho in separate cases relating to the online trafficking of personal information. -
Consumer Financial Protection Bureau orders CarHop to pay $6.4 million over alleged illegal activities
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) recently ordered CarHop and its affiliated financer Universal Acceptance Corp. to cease alleged illegal activities and pay a $6.4 million civil penalty. -
FTC reaches $100 million settlement with LifeLock
WASHINGTON (Legal Newsline) – The Federal Trade Commission (FTC) has reached a $100 million agreement with LifeLock over contempt charge allegations. -
Industry, consumer groups divided over CFPB’s planned proposal to prohibit arbitration
Groups representing businesses and financial industries contend a ban would make way for plaintiffs’ lawyers and hurt the economy. They want to see more research done before the Consumer Financial Protection Bureau starts the rulemaking process. -
Legality of CFPB’s plan for proposed ban on arbitration clauses in question
Arbitration experts and law professors weigh in on the bureau’s move to possibly ban the agreements. They argue case law -- in particular, two U.S. Supreme Court decisions -- could stand in its way.