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The Biden-Harris administration announced Thursday it has begun looking into removing medical debt from consumer credit reports in an effort to lessen the impact unexpected medical costs can have on people and help them recover from the expenses, which can be immense. In a press release, the Consumer Financial Protection Bureau (CFPB) said the proposal…
A billionaire benefactor of Supreme Court Justice Samuel Alito has a significant financial stake in companies supervised by the Consumer Financial Protection Bureau, as the watchdog faces the crosshairs of an upcoming case before the high court, The New Republic has learned.Paul Singer, a controversial money manager and longtime GOP megadonor, has a hedge fund that holds at least a $90 million stake in financial companies that would stand to benefit were the court to rule against the CFPB in the
The CFPB found tuition payment plans can be predatory for student-loan borrowers, piling on late fees and causing them to be kicked off meal plans.
After the economic crash of 2008 when millions of Americans lost their homes, the Consumer Protection Act and Dodd-Frank Wall Street reform created the Consumer Financial Protection Bureau (CFPB) in...
The U.S. Consumer Financial Protection Bureau is currently pursuing nearly two dozen lawsuits accusing prominent defendants including Fifth Third Bank, TransUnion and Moneygram of financial misconduct. The agency's 300-plus enforcement actions from 2012-22 have delivered $16 billion of relief to American consumers, drawn in part from a $3.7 billion settlement last year with Wells Fargo, according to CFPB data. Yet as it continues to police financial wrongdoing, the CFPB faces an existential threat in the case pursued by two trade groups representing the payday loan industry to be argued...