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The CFPB is cracking down on Timemark, a student-debt relief company, for charging fees for loan forgiveness services that are normally free.
What took place this week in the credit card and payment industries
CFPB released a Data Spotlight report focusing on Southern states entitled Banking and Credit Access in Southern Region of the US. The extensive report seeks to identify gaps in banking and credit access in the south, including AL, AK, GA, LA, MS, NC, SC, and TN
The CFPB recently issued Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It was evident that this rule, which seeks to amend the ECOA to require strict reporting requirements for small business lenders.
A Consumer Financial Protection Bureau issue says PayPal and other popular payment apps often sidestep key government protections for your funds. Mobile payment apps like PayPal, Venmo and Cash App have exploded in popularity in the last several years. Convenience, transaction speed, and flexibility across multiple smartphone types offer consumers an easier way to pay for services and split bills with friends and family. The pandemic further accelerated this ongoing shift toward a cashless futur