Dealing with the risks posed by the use of algorithms in marketing financial products and with institutions abusing their dominant market positions are some of the key priorities for the CFPB.
During a recent interagency webinar, representatives from eight federal regulators discussed fair lending issues, including initiatives to tackle redlining and how companies can self-regulate.
LendUp Loans agreed to a $100,000 settlement to resolve charges of repeated violations of fair lending laws. Two previous actions against the company yielded nearly $5 million in penalties and redress.
The National Consumer Law Center requested the CFPB institute rules that would help spread the word about the rental assistance program and protect consumers from negative consequences while they waited for relief funds.
Asset-size exemption thresholds altered; state AGs ask FHA to push servicers to implement COVID-19 loss-mitigation offerings; bureau survey results show some consumers’ finances improved during the pandemic; CFPB joins amicus brief in lawsuit over who counts as a credit “applicant.”
The resignation, effective Feb. 4, will leave the FDIC board composed entirely of Democrats. It follows a highly visible — and unusual — partisan spat among board members.
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