Page 58 - Cfpb News Today

Consumer Financial Protection Bureau CFPB plans to revitalize its authority to examine nonbank financial companies that pose risks to consumers. Though the CFPB has held this authority since its creation in 2010, the agency has rarely invoked it, leaving it largely dormant.

Third Circuit appeal in Consumer Financial Protection Bureau v. The National Collegiate Master Student Loan Trusts filed by defendants The National Collegiate Student Loan Trusts and certain interveners. Third Circuit agreed to hear two certified questions under CFPA.

Consumer Financial Protection Bureau announcing the release of its Supervisory Highlights outlining identified consumer protection violations, the CFPB highlighted two industries of concern in its press release: auto servicers and credit reporting companies,debt collectors

CFPB and New York Attorney General’s Office filed complaint against remittance provider alleging provider repeatedly gave senders inaccurate information about when their remittance transfers would be available to recipients abroad. Repeatedly failed to provide the investigations.

CFPB announced that it is using its dormant authority to examine nonbanks. CFPB intends invoke its authority under the Dodd-Frank Act to examine nonbanks whose activities the CFPB has reasonable cause to determine pose risks to consumers.

Consumer Financial Protection Bureau announced it would invoke its legal authority to examine nonbanks that pose risks to consumers. Bureau to hold nonbanks to the same standards banks are held to, to rein in risky behavior and more quickly prevent consumer harm.

Consumer Financial Protection Bureau CFPB initiated efforts to regulate overdraft programs, shelved during Trump administration, legislation to restrict overdraft fees proposed and considered not enacted. 2022 may see US financial regulatory agencies move to impose formal restrictions.

From the threat of cyberattacks to discriminatory lending practices, banks need to pay close attention to a number of significant challenges.

Military veterans are consistently been targeted by predatory colleges eager to take advantage of federal funding available specifically to them.

Recently, CFPB Director Rohit Chopra spoke at a joint meeting of the CFPB's Community Bank Advisory Council and Credit Union Advisory Council in which he expressed concerns that core service providers...