On Wednesday, the Consumer Financial Protection Bureau (CFPB) issued a report regarding the use of mobile financial services (MFS) by underserved populations. The CFPB was clear that the report was not “intended to identify...more
On October 7, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it is exploring a rulemaking to eliminate the use of certain arbitration agreements in consumer contracts that block consumers from...more
10/9/2015
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Jurisdiction ,
Mandatory Arbitration Clauses ,
Rulemaking Process
On September 18, 2015, the CFPB announced that it was appointing new members to the Consumer Advisory Board, Community Bank Advisory Council, and the Credit Union Advisory Council. These three bodies advise CFPB leadership on...more
The Consumer Financial Protection Bureau (CFBP) recently took action against a payment processing company, Paymap Inc. (Paymap), and mortgage servicing company, LoanCare, LLC (LoanCare), for deceptive conduct in connection...more
8/25/2015
/ Advertising ,
Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
False Advertising ,
Mortgage Servicers ,
Mortgages ,
Payment Processors ,
Unfair or Deceptive Trade Practices
Last week, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment from consumers on how the credit card market is functioning following several initiatives imposed by the Credit Card...more
Section 1028 of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes the Consumer Financial Protection Bureau (CFPB) to limit or even prohibit the use of arbitration provisions that govern future disputes...more