Page 42 - Cfpb News Today

The world of banking compliance is constantly changing, and bankers have an increasing amount of information to keep up with. This update includes CFPB's new consumer data rights rule, DOJ False Claims Act Enforcement, and American Bankers Association's letter to CFPB.

CFPB clarified further through a Consumer Financial Protection Circular that the flag was thrown against Regions for simply allowing overdraft fees to be charged on APSN transactions, regardless of how the bank’s overdraft methods were disclosed.

Lower loan manufacturing costs and create clear forbearance repayment options, urges association

Republican control of the House of Representatives means that CFPB could be sidelined for years, writes the Chairman of Whalen Global Advisors

After a judge dismissed a lawsuit brought under the anti-predatory-lending law, the Consumer Financial Protection Bureau and the Federal Trade Commission are urging an appeals court to reverse the ruling. They argue that lenders have little incentive to comply with the 2006 law if the threat of being sued gets diminished.

CFPB employee representatives said the agency is dragging its feet on plans to reduce gender and racial pay gaps, as well as to comply with federal law ...

As we previously predicted, the Consumer Financial Protection Bureau (CFPB) has asked the Supreme Court to reverse the recent Fifth Circuit decision finding that the agency's funding is unconstitutional.

The Consumer Financial Protection Bureau is challenging a recent appeals court decision that its funding through the Federal Reserve Board violates the separation of powers doctrine. That ruling "threatens to inflict immense legal and practical harms" on financial regulation, the CFPB says.

CFPB released an outline of proposed measures related to the Bureau’s Dodd-Frank Section 1033 rulemaking efforts that would allow consumers the rights over their personal financial data. The outline discusses proposed regulations that would require covered data providers.

CFPB issued guidance to help banks avoid charging illegal overdraft fees on consumer deposit accounts. In Circular 2022-06, Bureau stated that overdraft fees assessed by financial institutions on transactions a consumer would not reasonably anticipate likely violate CFPA.