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Inside the CFPB
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First Enforcement Action Under Chopra Targets Abusive Practices

October 25, 2021
Brandon Ivey
JPay, a company that helps the government distribute money to people at the end of their prison sentences through debit cards, charged consumers fees to access their own money, the bureau said in its complaint.
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CFPB Paying Attention to Big Tech’s Payment Platforms

October 25, 2021
Brandon Ivey
Amazon, Apple, Facebook, Google, PayPal and Square have been ordered to provide information regarding their payment platforms. The CFPB said the order was part of a market monitoring effort.
Read More

Fair Lending and Servicing a Top Priority for CFPB

October 25, 2021
Brandon Ivey
The CFPB under Rohit Chopra is expected to be much more aggressive regarding fair lending and fair servicing than under his predecessors.
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Chou Team COO Fined $40M Over Credit Report Fraud

October 25, 2021
Namrata Bhatia
A California district court found Jawad Nesheiwat, the company’s COO, guilty of providing consumer credit information to student loan debt-relief companies to use in marketing their services.
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Court Sides with BofA in Escrow Interest Class Action

October 25, 2021
Namrata Bhatia
A Maryland homeowner sought to file a class action against Bank of America for violating a state law requiring banks to pay interest on funds maintained in escrow accounts.
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CFPB Joins FTC, NC DOJ in Defense of Fair Credit Reporting Act

October 25, 2021
Dennis Hollier
The bureau filed a joint amicus brief with the Federal Trade Commission in a case that seeks to use a section of the Communications Decency Act to avoid prosecution under the Fair Credit Reporting Act.
Read More

Other News in Brief

October 25, 2021
Brandon Ivey
Seila Law ends Supreme Court quest; compliance date of 2017 rule delayed again; CFPB joins other regulators on LIBOR statement; CFPB seeks clarity on Regulation O; consumers seek regulation of earned wage access products.
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CFPB Activity to Rise with Chopra Holding the Reins

October 11, 2021
Brandon Ivey
With the Senate confirming Rohit Chopra as CFPB director, industry participants are preparing for regulatory whiplash after relaxed enforcement and rulemaking during the Trump administration.
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Hopes, Dreams for Actions by CFPB Conveyed to Chopra

October 11, 2021
Brandon Ivey
Rohit Chopra’s confirmation as CFPB director prompted a surge of statements from industry stakeholders. The sentiments include requests for action and compliments.
Read More

Enforcement Actions Can Drive Minority Lending

October 11, 2021
Namrata Bhatia
Banking supervision plays an important role in improving access to mortgage credit for minorities and women, according to a new study.
Read More
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