Page 23 - Cfpb News Today

The CFPB has long expressed concern about big tech’s entry into financial services, particularly in connection with payments, and these companies’ ability to collect and monetize consumer data.

Has your healthcare provider offered you a loan or even a credit card to help pay for treatment? Consumer Investigator Caresse Jackman spoke with the CFPB about how medical credit cards and loans are impacting patients and possible alternatives.

Republican members of the House Financial Services Committee blasted Consumer Financial Protection Bureau Director Rohit Chopra as an 'extortionist' and labeled his efforts to rein in discrimination as 'McCarthyism' during a four-hour hearing Wednesday.

In June, CFPB issued a report summarizing its research into the use of artificial intelligence AI in consumer finance. The Report focused on the shift away from human support to algorithmic support in the banking and consumer finance industry.

Has your healthcare provider offered you a loan or even a credit card to help pay for treatment? Consumer Investigator Caresse Jackman spoke with the CFPB about how medical credit cards and loans are impacting patients and possible alternatives.

Consumer Financial Protection Bureau Director Rohit Chopra warned that "powerful firms" must not dominate the new open banking landscape.

Consumer Financial Protection Bureau Director Rohit Chopra faces tough questions next week testifying before the Senate Banking Committee and House Financial Services Committee.

More than any real world problem posed by IMBs, it is the government in all of its manifestations that poses a significant risk to the world of mortgage finance and the housing sector more generally, writes the Chairman of Whalen Global Advisors.

On May 31, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an Indiana-based non-bank installment lender.

CFPB warns consumers who hold funds in payment apps such as Venmo and Paypal should be aware the funds are usually NOT held in an FDIC-insured bank. Most non-bank payment apps are regulated not as FDIC-insured banks, but as state licensed money transmitters.