CFPB's Policy Statement on Abusiveness (Part 2) - The Consumer Finance Podcast
Military Lending Act and Servicemembers Civil Relief Act Overview - The Consumer Finance Podcast
Key Points - - The CFPB and DOJ have recently prioritized enforcement of federal servicemember protections. - The Servicemembers Civil Relief Act and Military Lending Act provide key protections such as interest rate caps,...more
On December 5, 2024, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a joint letter directed at financial service providers to reinforce the importance of interest rate protections...more
On January 12, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a report highlighting an increase in reported incidents of identity theft by servicemembers. The report, titled “Servicemember reports about...more
A couple of months ago, the Consumer Financial Protection Bureau issued a research paper it said revealed that many active duty servicemembers who were entitled to interest rate reductions under the federal Servicemembers...more
The Servicemembers Civil Relief Act offers servicemembers financial protections, including the ability to have interest rates reduced to 6%, when a servicemember is called to active duty after entering into a credit...more