After the CFPB refused to exclude an interest-bearing crypto product from its investigation of Nexo Financial, the firm announced plans to leave the U.S.

CFPB will update APOR calculation; MoneyGram enforcement stayed; servicemember interest rate reduction underused; poll shows strong support for CFPB among likely voters.

The CFPB’s annual financial report showed an uptick in staffing and expenses but a significant increase in the civil money penalties collected. Victim compensation flagged a bit. (Includes data chart.)

The servicer argued that the borrower hadn't returned the loan modification agreement in time. But the court said that detail was a matter of factual dispute.

Supreme Court grants extension for response to bureau appeal; CFPB slams tenant background checks; CFPB, NY AG penalize 9/11 fraudster; CFPB files enforcement action for “fake” CD accounts.

Wells Fargo and the CFPB are reportedly negotiating over violations in several lines of business at the megabank. Separately, Sen. Elizabeth Warren (D-MA) is continuing her effort to draw attention to fraudulent instant payments. 

The bureau alleged that the servicer misled consumers about CARES Act forbearance and misreported information to credit agencies. Carrington says the bureau is not living up to its promise to be “flexible” with servicers who meant well. 

CFPB finalizes rule on risk-based supervision expansions; Gruenberg renominated as FDIC chairman; FTC safeguards rule deadline extended; Supreme Court considers agency administrative proceedings.

After a quiet period in the early days of Rohit Chopra’s tenure, the CFPB is back on pace with enforcement actions. But the new director’s presence is really being felt in an avalanche of guidance.

CFPB says that overdraft fees based on “unintelligible” processes and blanket policies to charge consumers for depositing checks that bounce are both likely violations of the Consumer Financial Protection Act.