Page 41 - Cfpb News Today

Amid testimony from Consumer Financial Protection Bureau Director Rohit Chopra in front of the Senate Banking Committee, Sen. Pat Toomey proposed that the agency should be funded in the congressional appropriations process.

In a series of tense exchanges, Republicans accused Consumer Financial Protection Bureau Director Rohit Chopra of making rules through press releases.

Nonbanks would have to inform the CFPB of any state or local court decisions against them involving consumer financial products, under a new proposed rule. That information would be pooled with data about federal violations and be made available to the public.

The CFPB accused five companies that provide student-debt relief services of unlawfully collecting fees. Impacted borrowers will soon be compensated.

On December 1, the CFPB and a financial services company filed a stipulated proposed court order seeking the resolution of a CFPB suit alleging that the financial services...

The Consumer Financial Protection Bureau CFPB announced a proposed consent order on December 1 intended to address a scam engaged in by a company called Loan Doctor, as well as by the company’s founder, Edgar Radjabli.

The CFPB and a financial services company filed a settlement resolving a CFPB suit alleging the financial services company made false marketing representations to consumers regarding its high yield savings account offering. The settlement includes refunds to depositors.

Consumer Financial Protection Bureau made public administrative order denying Nexo Financial LLC petition to modify Bureau’s civil investigative demand. Order represents first publicly known Bureau investigation of digital asset company over Nexo Earn Interest crypto product.

The U.S. Department of the Treasury recently released a report titled "Assessing Impacts of New Entrant Non-bank Firms on Competition in Consumer Finance Markets," a product of the Biden administration's effort to assess competition in different aspects of the economy.

Department of the Treasury recently released a report titled Assessing Impacts of New Entrant Non bank Firms on Competition in Consumer Finance Markets which reinforces the intent to increase regulatory oversight and encourage diversification in consumer finance markets.