Newsletters

11.30.17

CFPB Hits Debt Settlement Services Provider With Lawsuit

The Bureau of Consumer Financial Protection (CFPB or Bureau) has filed suit against the largest debt settlement services provider in the country, accusing the California-based entity of violating Dodd-Frank and the Telemarketing Sales Rule by deceiving consumers about its services.


11.21.17

Trump’s CFPB Pick: Major Impact for Industry and Consumers?

If recent media reports are accurate, the president intends to name current Office of Management and Budget (OMB) Director Mick Mulvaney as acting director of the Consumer Financial Protection Bureau (CFPB).


11.09.17

CFPB News: Supervisory Highlights, Consumer Protection Principles

In the latest roundup of Bureau of Consumer Financial Protection (CFPB or the Bureau) news, the Bureau published another edition of Supervisory Highlights, released nonbinding Consumer Protection Principles and was officially handed a defeat when President Donald Trump killed the arbitration rule.


10.26.17

Multi-Plaintiff Suit Challenges CFPB’s Arbitration Rule

With no progress in Congress repealing the Consumer Financial Protection Bureau’s (CFPB or Bureau) arbitration rule, a coalition of 18 organizations filed suit in Texas federal court seeking to halt implementation of the prohibition on the use of mandatory predispute arbitration clauses.


10.26.17

CFPB Tweaks Rules for Mortgage Servicer Communications

The Consumer Financial Protection Bureau (CFPB or Bureau) released a new interim final rule intended to clarify how mortgage servicers can communicate with borrowers at risk of foreclosure, as well as a proposed rule about bankruptcy communications.


09.28.17

Court Tosses CFPB Suit as Discovery Sanction

A Georgia federal court judge has dismissed a lawsuit filed by the Consumer Financial Protection Bureau (CFPB or Bureau) against four payment processors as a sanction for demonstrating a “blatant disregard” for the court’s instructions.


09.28.17

New From the CFPB: No-Action Letter, Online Aggregator Targeted

In the latest Consumer Financial Protection Bureau news, the Bureau issued its first no-action letter (of any kind), and did so to an online lending platform.


08.31.17

Overdraft Report, Disclosure Prototypes From CFPB

Focusing on overdrafts, the Consumer Financial Protection Bureau (CFPB) released a new report as well as prototypes of “Know Before You Owe” disclosures for banks and credit unions offering overdraft protection.


08.31.17

Another Court Finds the CFPB Constitutional

Ruling that the Consumer Financial Protection Bureau (CFPB) is constitutional and has the authority to act against companies without first adopting specific rules defining whether any specific practice is unfair, deceptive or abusive, a Pennsylvania federal court judge denied a student loan ...


08.17.17

Forecast: Abundance of Potential New Rulemaking From the CFPB

After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies on notice about forthcoming rules on payday, title, high-cost installment ...