ABA, trade groups: CFPB has no authority to enact rule limiting arbitration
According to the organizations, the bureau lacks the statutory authority to enact such a rule, and it would violate at ...
Tag: Consumer Financial Protection Bureau
CFPB: Consumer financial health declined in 2022
The average financial well-being of U.S. consumers has returned to its pre-pandemic level, with more families reporting having difficulty paying ...
ABA cautions against shifting liability for P2P scams
Any measures to shift liability to financial institutions for peer-to-peer payments that a consumer authorizes and later claims were paid ...
CFPB guidance warns nonbank financial firms on data security
The Consumer Financial Protection Bureau published a circular today on how and when nonbank financial firms—such as fintech companies and ...
CFPB: Digital marketers not exempt from Consumer Financial Protection Act
Digital marketers that provide targeted advertising for financial firms are subject to the Consumer Financial Services Protection Act and its ...
Chopra resists requests to define ‘junk fees’ with specificity
Under pressure from Republican lawmakers to define what he meant by “junk fees”—a term coined by the bureau as part ...
CFPB Finalizes Partial Fair Debt Collection Practices Act Rulemaking
The CFPB today published a portion of its long-awaited Fair Debt Collection Practices Act rulemaking to modernize and clarify rules ...
CFPB Makes Changes to Regulations on Disclosure of Records, Information
The Consumer Financial Protection Bureau today finalized changes to its regulations regarding the disclosure of records and information.
ABA: Card Market Overregulation Would Harm Credit Access
The credit card market is functioning well, and consumers feel their bank is there for them during the COVID-19 pandemic, ...
Agencies Outline Risks and Benefits of Alternative Data Use
Five federal banking agencies yesterday issued a joint statement on the use of alternative data in credit underwriting.
