Industry trade groups said a separate role for the CFPB when it comes to reviewing bank mergers was unnecessary and would be outside of the bureau’s authority.
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Monthly mortgage statements that contain language suggesting they are attempts to induce payment on a debt can be construed as a debt-related communication under the Fair Debt Collections Practices Act.
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The CFPB wants to know if employees have a real choice when such products show up in the course of their work, and whether such debt prevents them from seeking better-paying employment.
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Banks significantly increase residential lending to minority borrowers after enforcement decisions and orders, according to a new study by economists at the Federal Reserve.
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Researchers looking at application denial rates and interest rates found that racial disparities exist for both Black and Hispanic borrowers even when controlling for various credit factors.
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The defendant, a Baltimore-based bank, argued that the plaintiffs had no standing because they couldn’t prove the kickback scheme was tied to increased settlement costs.
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Guidance on convenience fees; servicemember debt collection issues; military allotment misuse; BNPL furnishing; CFPB issues RFI on large banks’ customer service practices.
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