The fintech said the move was motivated by a need to keep its risk models accurate and due to changing priorities at the bureau.

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.

Federal regulators recently elaborated on their goals behind last month’s interagency Community Reinvestment Act proposal, which some fair lending advocates believe is not going to advance racial equity.

Mortgage lenders and brokers who participated in a small business review panel convened by the CFPB support making AVMs more accurate but are concerned about downstream financial and business impacts.

The Ninth Circuit overturned a lower court’s decision that CitiMortgage had accurately responded to a consumer’s dispute over furnished loan information and conducted a reasonable investigation.

The CFPB reiterated that the Equal Credit Opportunity Act requires creditors to provide consumers notice if they decide to take an adverse action, even if it’s based on a “black-box” credit model.