The Consumer Financial Protection Bureau’s Supervision Division has issued a new directive requiring examiners to read a “Humility Pledge” to supervised entities before conducting examinations, marking a sharp departure from the agency’s prior supervisory...
The Consumer Financial Protection Bureau announced it will not prioritize enforcement or supervision actions against payday, vehicle title, and high-cost installment lenders for violations of the Payment Withdrawal and Payment Disclosure provisions of its...
The Consumer Financial Protection Bureau said it will deprioritize enforcement and supervision of the Small Business Lending Rule against entities falling outside the stay in Texas Bankers Association v. CFPB, citing both resource allocation and...
The Consumer Financial Protection Bureau said servicemembers borrowing to buy vehicles take on larger loans, make smaller down payments and pay more in interest than civilian borrowers, citing analysis of more than 20 million auto loans originated between...
The Consumer Financial Protection Bureau and the Department of Justice on April 15 rescinded a 2023 joint statement that had warned lenders considering borrowers' immigration status could run afoul of the Equal Credit Opportunity Act, with the agencies...
The Consumer Financial Protection Bureau is asking a court to vacate a settlement it reached with Townstone Financial and return a six-figure penalty, with Acting Director Russ Vought alleging the mortgage company was targeted for political speech rather...
The Consumer Financial Protection Bureau notified a federal court Friday that the Department of Justice's Office of Legal Counsel has determined the agency cannot lawfully request funding from the Federal Reserve because the central bank currently lacks the...
The Consumer Financial Protection Bureau said Friday it will deprioritize enforcement of its May 2024 rule extending Truth in Lending Act requirements to buy now, pay later lenders and is weighing whether to rescind the regulation outright.
The Consumer Financial Protection Bureau announced it will not prioritize enforcement actions under its May 2024 rule governing buy now, pay later loans and is considering rescinding the regulation entirely.
The Consumer Financial Protection Bureau and the Department of Justice on Friday withdrew a joint statement issued under the prior administration that had cautioned creditors about considering an applicant's immigration or citizenship status under the Equal...
The Consumer Financial Protection Bureau said Friday it filed a notice in NTEU v. Vought informing the court that the Justice Department's Office of Legal Counsel has determined the Bureau may not legally request funds at this time from the Federal...
The Consumer Financial Protection Bureau and FirstCash, Inc. resolved the agency's November 2021 lawsuit alleging the Fort Worth-based pawnshop operator and its nineteen subsidiaries made loans to active-duty servicemembers at rates above the Military...
The Consumer Financial Protection Bureau on Friday announced a May 15, 2025 amendment to its January 2025 consent order with international remittance company Wise, reducing the civil penalty from $2.025 million to approximately $45,000 while leaving in...
The Consumer Financial Protection Bureau said Friday it will not prioritize enforcement of its 2024 rule applying Truth in Lending Act protections to Buy Now, Pay Later loans accessed through digital user accounts, and said it is considering rescinding the...
The Consumer Financial Protection Bureau said Friday that Acting Director Russ Vought is asking a court to vacate the agency's prior settlement with Chicago-area mortgage firm Townstone Financial and refund the six-figure civil penalty the firm paid, in a...
The Consumer Financial Protection Bureau released a report Friday analyzing more than 20 million auto loans originated between 2018 and 2022, concluding that U.S. servicemembers take on larger loans, make smaller down payments, and pay higher interest rates...
Consumer Financial Protection Bureau General Counsel Seth Frotman wrote to South Dakota state Rep. Brian Mulder on Friday endorsing House Bill 1058, which would prohibit medical creditors and debt collectors in the state from reporting medical debt...
The CFPB's general counsel wrote South Dakota's legislature to back a bill that would bar medical creditors and debt collectors from reporting medical debt to consumer reporting agencies.
A new CFPB analysis of more than 20 million auto loans finds that military borrowers consistently face worse financial terms than civilian counterparts across every major cost category.