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.
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.
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.
Banks significantly increase residential lending to minority borrowers after enforcement decisions and orders, according to a new study by economists at the Federal Reserve.
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.
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.
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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