Many industry insiders believe the reason for the delay is to prevent the Federal Trade Commission from obtaining a Republican majority when FTC Commissioner Rohit Chopra resigns to take charge at the CFPB.

Acting Director Dave Uejio expressed concerns about any business model that is dependent on consumers’ inability to repay their loans.

Unlike the first two rounds of COVID-19-related relief payments, the latest $1,400 check isn’t protected from being garnished by debt collectors.

Loan officers employed with the megabank since May 2016 claim the depository unlawfully required significant off-the-clock work and failed to properly calculate overtime.

After trending down for three consecutive years, mortgage-related complaints filed with the CFPB increased sharply in 2020.

As more borrowers look to modify their debt when pandemic-related moratoriums end, the CFPB is likely to increase scrutiny of companies offering such relief, an industry attorney said.

The agency has granted the now-defunct Integrity Advance 30 days to seek a stay from the U.S. Court of Appeals for the 10th Circuit.

The bureau brought four public enforcement actions last year for alleged violations of the Fair Debt Collection Practices Act.

The CFPB issues a civil investigative demand to Oportun Financial Corp; California’s DFPI reiterates “aggressive” enforcement stance.