Interagency cooperation and new provisions focus on consumer protection from fee hikes. Multiple agencies in President Biden’s administration recently announced partnerships to address price hikes and industry “junk…
Read MoreConsumer Financial Protection Bureau
DOJ & CFPB Sue Texas Developer for Defrauding Latino Borrowers
The company is accused of making false statements and predatory loans in the Houston area. The Department of Justice and Consumer Financial Protection Bureau filed a lawsuit against…
Read MoreRohit Chopra, Consumer Financial Protection Bureau
Rohit Chopra is Director of the Consumer Financial Protection Bureau. His agency is responsible for consumer protection in the financial sector, overseeing the practices of industries including banks, credit…
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FTC Fines TransUnion for Illegal Rental Background Check and Reporting
One fine was for poor screening and another for lying to customers. The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have issued two fines…
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White House Addresses Consumer Junk Fees
FTC and CFPB to implement actions to follow the president’s lead. President Joe Biden gave a speech from the White House Rose Garden this week, addressing the pervasive…
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CFPB Proposes Removal of Medical Bills from Credit Reports
The director says, “Medical bills have little predictive value in credit decisions.“ The Consumer Financial Protection Bureau (CFPB) is in the rulemaking process that would take medical bills…
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FTC Joins Consumer Financial Protection Bureau in Credit Information Appeal
The case involves how disputed credit information should be handled under the Fair Credit Reporting Act. The Consumer Financial Protection Bureau (CFPB) was joined by the Federal Trade…
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Landlords of USDA-Financed Rentals Urged to Disclose Renters’ Rights
President Biden’s administration has outlined a “bill of rights” for renters of federally-funded properties. The U.S. Department of Agriculture (USDA) is encouraging landlords of USDA-financed properties to inform…
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President’s Administration Warns Financial Firms of AI Risks
Decisions made with data sets can lead to more discrimination, not less The heads of the Consumer Financial Protection Bureau, the Justice Department’s civil rights unit, and the…
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Regulators Shut Down California Bank
Customers make massive withdrawals after big asset losses. The Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation shut down the Silicon Valley Bank…
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