The bureau moved one step closer in its long-awaited consumer-permissioned data sharing rule, releasing an outline of proposals to small business representatives.
The bureau has sent notice that financial services firms need to stay on their toes regarding data security or risk violating the Consumer Financial Protection Act.
Broeksmit criticizes CFPB at annual MBA conference; Senate Democrats ask for remittance rule revisions; bureau reopens payment service comments; CFPB says student borrower finances worsening.
The American Financial Services Association defended its members following a report from the Center for Responsible Lending that criticized “high-cost installment loans.”
CSBS names new policy and supervision chief; CFPB studies student banking; bureau sues remittances firm; DOJ settles discrimination claims with bank; Regulation F MVNs are optional; bureau states clearly false data don’t belong on credit reports.
The lawsuit claims the CFPB overstepped its authority when revising its supervisory exam manual to consider discrimination an unfair, deceptive or abusive act or practice.
The Federal Trade Commission and California’s Department of Financial Protection and Innovation have initiated action against a group of companies for making false claims related to mortgage modifications.