CSBS names new policy and supervision chief; CFPB studies student banking; bureau sues remittances firm; DOJ settles discrimination claims with bank; Regulation F MVNs are optional; bureau states clearly false data don’t belong on credit reports.
The lawsuit claims the CFPB overstepped its authority when revising its supervisory exam manual to consider discrimination an unfair, deceptive or abusive act or practice.
The bureau is focusing its efforts on tackling digital redlining, reining in repeat offenders and identifying emerging risks, according to the bureau’s fair lending director.
The bureau’s special supervisory highlights report cites instances of university-owned lenders withholding academic transcripts to coerce borrowers into making payments.
The Center for Responsible Lending and Consumer Bankers Association have jointly requested rulemaking on personal lending, while the National Consumer Law Center wants rulemaking to prohibit the listing of medical debt on credit reports.
The CFPB said the company hadn’t met any of its self-imposed deadlines to provide information regarding how it handles consumer disputes. Block operates popular peer-to-peer payments service Cash App.
The CFPB is looking to hire roughly 25 tech-savvy employees to aid in supervision and enforcement. The positions to be filled range from data scientists to user experience designers.