On February 23, the Consumer Financial Protection Bureau announced its first decision designating a nonbank lender for supervision based on potential risk to consumers. As the CFPB emphasized in its press release, however,...more
On December 19, 2023, the CFPB issued an administrative consent order alleging that a Minneapolis-based National Bank inappropriately froze the accounts of "tens of thousands" of recipients of unemployment benefits via...more
HIGHLIGHTS: The CFPB announced that it is filing a lawsuit against a payday lender for allegedly concealing free repayment plans and making unauthorized debit-card withdrawals. With its allegations of unfair, deceptive, and...more
Highlights: One of the nation's largest banks agreed to entry of a consent order to settle CFPB allegations that the bank unlawfully froze customer accounts, charged them garnishment fees, and turned over funds to creditors...more
Last week, the Consumer Financial Protection Bureau (CFPB) announced that it will examine colleges' in-house lending practices. According to the press release, the CFPB decided to examine institutional lenders because of the...more
Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider.
With July 21, 2021 marking...more