Consumer Financial Protection Bureau
U.S. Government: Agencies/Departments/Divisions | Federal Agencies
Recent News About Consumer Financial Protection Bureau
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CFPB blog post details key areas of 2017 focus for agency's fair lending department
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) released a blog post Dec. 16 by Patrice Ficklin of the fair lending department that details the key areas her team will focus on in 2017. -
Attorney: ‘Very likely’ CFPB will finalize proposed arbitration rules before Obama’s departure
President-Elect Donald Trump and Vice President-Elect Mike Pence are to be inaugurated Jan. 20. The Consumer Financial Protection Bureau is expected to issue its final set of rules prohibiting arbitration clauses that prevent class action lawsuits by then. -
CEI, in agenda for new Congress, pushes lawmakers to rein in federal agencies
The Competitive Enterprise Institute’s congressional agenda, which was released last week, focuses on eight policy areas, including regulatory reform and agency oversight, banking and finance, and labor and employment, among other topics. -
CFPB orders three reverse mortgage companies to cease alleged deceptive practices and pay penalties
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced Dec. 7 that it has ordered American Advisors Group, Reverse Mortgage Solutions, and Aegean Financial to stop alleged deceptive advertising practices, implement systems to ensure they are complying with all laws, and pay penalties. -
CFPB wants Zero Parallel to comply with civil investigative demand
LOS ANGELES (Legal Newsline) — The U.S. Consumer Financial Protection Bureau is suing a California business, alleging breach of contract and violation of federal law. -
Consumer bureau warns financial companies of mismanaged employee incentive programs
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) issued a bulletin Nov. 28 warning supervised financial companies that creating incentives for employees and service providers to meet sales and other business goals can lead to consumer harm if not properly managed. -
Consumer bureau targets Access Funding for alleged lead-paint poisoning scam
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced Nov. 21 the filing of a complaint in federal district court against Access Funding LLC, alleging the company conducted an illegal scheme to scam victims of lead-paint poisoning. -
Wells Fargo wants plaintiffs in class action over sales practices to submit claims to arbitration
The bank filed its motion to compel and a 16-page memorandum in support in the U.S. District Court for the District of Utah, Central Division, Nov. 23. -
CFPB launches inquiry into challenges consumers face in using their financial records
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced Nov. 17 that it is launching an inquiry into the challenges consumers face in finding and securely sharing their financial records. -
CFPB alleges Virginia pawnbroker's loans violate federal law
RICHMOND, Va. (Legal Newsline) – A federal agency alleges a Fredericksburg, Virginia, corporation failed to disclose certain terms on its contracts. -
CFPB, Schneiderman team for lawsuit
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced a lawsuit Nov. 2 filed in partnership with New York Attorney General Eric T. Schneiderman against the leaders of an allegedly massive debt collection scheme based in Buffalo, New York. -
Consumer board releases Project Catalyst innovation report
TOPEKA, Kan. (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) recently announced a report highlighting various market developments that have the potential to produce benefits for consumers. -
CFPB details $11 million in supervisory actions for thousands of consumers in recent report
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced Oct. 31 a Supervisory Highlights report that shows how the agency’s recent supervisory actions have returned more than $11 million to more than 225,000 consumers allegedly harmed by college loan servicers. -
Cordray letter about gender identity discrimination not a rule, former CFPB official says
When Consumer Financial Protection Bureau (CFPB) Director Richard Cordray wrote a letter in August, giving the bureau's views about whether credit discrimination on the basis of gender identity and sexual orientation violates the Equal Credit Opportunity Act (ECOA), it prompted speculation. -
D.C. Circuit's 'unusual' ruling says CFPB director can be fired
WASHINGTON (Legal Newsline) – An appeals court's ruling that the U.S. Consumer Financial Protection Bureau's structure is unconstitutional was surprising because of what it declared and for its language, two Washington, D.C.-based regulatory attorneys say. -
Manhattan Institute: NLRB's stance on class action waivers wrong
WASHINGTON (Legal Newsline) - The National Labor Relations Board (NLRB) recently asked the U.S. Supreme Court to determine if arbitration agreements that prohibit employees from pursuing class or collective actions are unlawful under the National Labor Relations Act (NLRA) and unenforceable under the Federal Arbitration Act. -
Navy Federal Credit Union to pay millions over allegations it made false threats to members
WASHINGTON (Legal Newsline) – The Consumer Financial Protection Bureau (CFPB) announced this week that it took action against Navy Federal Credit Union after allegations the organization used false threats about debt collection. -
Consumer board alleges Prime Marketing Holdings illegally charged consumers
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau has announced that it took action against Prime Marketing Holdings LLC, a credit repair company, suing for allegations the company charged consumers illegal advance fees. -
Lead generators should be wary of federal oversight, CFPB legal specialist says
WASHINGTON (Legal Newsline) – When set up properly, a consumer shouldn't notice it was a lead generator that connected them with a professional or service -
Law professor: Consumer board justified in suit against payment processor
BISMARCK, N.D. — A pending District Court lawsuit may have broad implications for the entire payment processing industry, a third party and go-between for merchants and consumers.