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On September 8, 2023, a federal court struck down the Consumer Financial Protection Bureau's (CFPB) attempts to supervise institutions for so-called "unfairness discrimination.
The Supreme Court will hear a case that could upend the CFPB, and in turn, jeopardize the housing and student-loan industries, Rohit Chopra said.
Shoppers at stores including Sears and Kmart were ‘kept in the dark’ about contract terms, CFPB says. The Consumer Financial Protection Bureau (CFPB) has fined consumer finance company Tempoe $36 million for "tricking" consumers into signing leasing agreements by concealing the contract terms and costs, and for failure to provide legally required disclosures.Forty-one states and the District of Columbia are also entering into a parallel multi-state settlement addressing the same conduct. Some $2
A federal judge ruled that the CFPB's UDAAP authority does not extend to combining issues of fairness and discrimination.
The Supreme Court is about to take on a case challenging the funding structure of the CFPB. The stakes are high for consumers and borrowers.