News stories tagged CFPB

NASCUS Summary: Compliance Bulletin on the Mitigating Harm from Repossession of Automobiles

CFPB Bulletin 2022-04: Compliance Bulletin re: Mitigating Harm from Repossession of Automobiles 12 CFR Chapter X The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the...

NASCUS Summary: Compliance Bulletin on the Electronic Fund Transfer Act

CFPB Bulletin 2022-02: Compliance Bulletin on the Electronic Fund Transfer Act’s Compulsory Use Prohibition and Government Benefit Accounts Section 913 of the Electronic Fund Transfer Act (EFTA) provides, among other...

Bureau regulatory agenda mute on overdraft programs – for now

Feb. 4, 2022  — The phrase “overdraft protection” does not appear in the “semiannual regulatory agenda” published this week by the CFPB in the Federal Register. But there may be...

CFPB updates consumer reporting company list

(Jan. 28, 2022) A list of “dozens of specialty reporting companies that collect and sell access to people’s data” was released Thursday by the CFPB. The data collected, the agency...

BRIEFLY: Letter reminds FCUs their op fees drop average of nearly 25%; NCUA, bank regulators dinged in privacy report; ‘Consumer law’ task force records to be released

(Jan. 21, 2022) Federal credit union (FCU) operating fees will decrease by an average of 23.7% in 2022, NCUA told the FCUs in a letter Thursday (letter to FCUs 22-FCU-01)....

CFPB reminds medical debt collectors of obligations

(Jan. 14, 2022) A reminder to debt collectors of their obligations when collecting medical debts to comply with federal prohibitions on misrepresentations and unfair practices was issued Thursday by the...

Alert notes increasing Reg Z, M thresholds, Reg V fees

(Jan. 7, 2022) A regulatory alert calling attention to threshold and fee adjustments – which are increasing for the new year — under truth in lending, consumer leasing and fair...

BRIEFLY: Former state regulator up for top Fed supervisor seat, reports say; Nebraska turns back bank purchase by CU; CFPB calls out credit reporting agencies

(Jan. 7, 2022) Sarah Bloom Raskin, a former Maryland financial institution regulator who also served as a deputy Treasury secretary and member of the Federal Reserve Board, is under consideration...

‘Buy now, pay later’ faces CFPB scrutiny

(Dec. 23, 2021) Concern about accumulating debt, regulatory arbitrage, data harvesting, and other components associated with “buy now, pay later” (BNPL) plans has led the CFPB to open an inquiry...

Overdraft fees not on CFPB rule agenda (yet?)

(Dec. 17, 2021) Six regulatory activities in 2022 by CFPB have been identified by the agency as “key” actions, according to a rulemaking agency released Monday – but action on...

Bureau takes new aim at overdraft fees, vowing to restore ‘meaningful competition’

(Dec. 3, 2021) Action to “restore meaningful competition” to the overdraft fee market was vowed this week by the CFPB, which noted that both small and large financial institutions “heavily...