CFPB

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[ December 23, 2024 ] Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech CFPB
[ December 23, 2024 ] Scheme to illegally steer business to Rocket Mortgage draws CFPB suit CFPB
[ December 23, 2024 ] Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA OCC
[ December 23, 2024 ] OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks OCC
[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB

Bureau targets subscription fees for services consumers don’t want as violations of consumer protection laws

January 19, 2023 0

Subscription fees charged for services people don’t want are the target of new guidance issued Thursday by the federal consumer financial protection agency with an aim of “rooting out” the tactics by some companies, the […]

Law firm would be curtailed in filing new ‘junk lawsuits’ against consumers in settlement

January 11, 2023 0

Charging illegal debt collection practices – including filing “junk lawsuits” – by a New York debt collection firm, the federal consumer financial protection agency said it has reached a settlement that would sharply curtail any […]

Nonbank contracts claiming to waive consumer rights would be subject to registry under proposal

January 11, 2023 0

Contracts by nonbanks that claim to waive or limit consumer rights and protections – including bankruptcy and liability amounts – would be subject to a public registry of terms and conditions under a proposal issued […]

Agencies announce lawsuit against auto lender for misrepresenting credit costs, ‘tricking customers’

January 4, 2023 0

Misrepresenting the cost of credit and tricking customers into high-cost loans on used cars are charges leveled against a Michigan auto lender by the New York Attorney General and the federal consumer financial protection agency […]

Annual report on consumer reporting firms finds improvements, but more actions suggested

January 3, 2023 0

Considerations for the nationwide consumer reporting companies to improve compliance with consumer financial protection laws and, ostensibly, to serve consumers better, is the asserted aim of annual report issued Tuesday by the federal consumer financial […]

HMDA, TILA asset-size exemption thresholds raised for 2023

December 28, 2022 0

Two final rules increasing the asset-size exemption thresholds for institutions required to report mortgage activity and to establish escrows for certain higher-priced mortgage loans (HPMLs) were published this week by the Consumer Financial Protection Bureau […]

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Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech

December 23, 2024 0

One of the nation’s largest retailers and a financial technology (fintech) firm were sued Monday for alleged illegal opening of accounts for delivery drivers and the two harvesting more than $10 million in “junk fees,” the federal consumer financial protection [...]
Scheme to illegally steer business to Rocket Mortgage draws CFPB suit

December 23, 2024 0

Rocket Homes and The Jason Mitchel Group were sued by the consumer financial protection agency Monday over allegations of illegal kickbacks for mortgage, title and escrow referrals in violation of the Real Estate Settlement Procedures Act (RESPA) and Regulation X, [...]
Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA

December 23, 2024 0

Violations and unsafe or unsound practices at one of the nation’s largest banks relating to anti-money laundering (AML) rules and sanctions compliance programs has prompted a cease-and-desist order by the regulator of national banks, made public Monday. The Office of [...]
OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks

December 23, 2024 0

Asset-size thresholds at small and intermediate-sized banks for defining compliance with anti-redlining rules in 2025 were announced Monday by the regulator of national banks. The Office of the Comptroller of the Currency (OCC) said that, starting Jan. 1, a bank [...]

Bureau targets subscription fees for services consumers don’t want as violations of consumer protection laws

Law firm would be curtailed in filing new ‘junk lawsuits’ against consumers in settlement

Nonbank contracts claiming to waive consumer rights would be subject to registry under proposal

Agencies announce lawsuit against auto lender for misrepresenting credit costs, ‘tricking customers’

Annual report on consumer reporting firms finds improvements, but more actions suggested

HMDA, TILA asset-size exemption thresholds raised for 2023

Bureau raises 2023 TILA thresholds for higher-cost mortgages, QMs

Remittance firm ordered to refund fees, pay penalty, after charges of failing to follow regulations

Household financial health fell in 2021, report asserts, with some key groups falling further

Wells Fargo faces $3.7 billion in redress, fines for ‘widespread mismanagement’ of customer accounts

Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech

Scheme to illegally steer business to Rocket Mortgage draws CFPB suit

Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA

OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks