CFPB Orders Mortgage Lender to Pay $2.25 Million for Allegedly Deceiving Servicemembers and Veterans

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it had entered into a consent order with NewDay USA, a ... Read More

CFPB faults non-profit hospitals, landlords in report on consumer debt

The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through ... Read More

Federal overreach in loan servicing enforcement will hurt consumers

The Consumer Financial Protection Bureau is seeking to protect borrowers from unscrupulous loan servicers. The goal is laudable, but the agency's methods are misguided. Read More

CFPB issues $2M penalty against VA lender

The bureau claimed Newday USA deceived homeowners by failing to disclose the costs associated with a cash-out refinance when compared alongside their existing mortgages. Read More

Some retailers begin charging cash back fees, CFPB reports

The CFPB believes there is a simple reason some retailers now charge cash back fees. “Some of these establishments are realizing that they can get away with it.” CFPB Director Rohit Chopra said the ... Read More

How Will New CFPB Rule Affect Short-Term Lenders?

In May, the Consumer Financial Protection Bureau (CFPB) introduced a new “interpretive rule” that subjects certain short-term lenders to the ... Read More

CFPB orders NewDay USA to pay $2.25M for providing misleading costs on 3,000 V.A. cash-out refis

According to the consent order, VA-lender NewDay USA provided worksheets with errors to borrowers in North Carolina, Maine and Minnesota. Read More

CFPB slammed with earned wage access commentary

The Consumer Financial Protection Bureau asked for public feedback on its earned wage access rule proposal and it got an earful. Read More

Retailers charge cash-back fees to consumers on smaller supply of free cash access points: CFPB

The U.S. Consumer Financial Protection Bureau shared on Tuesday a rather interesting development: Consumers are incurring charges to access their own funds when using debit or prepaid cards to receive ... Read More

CFPB Bites of the Month - August 2024 - All That's Left of the CFPB's Summer Sky

In this month's article, we share some of our top "bites" for the prior and current month covered during the August 2024 webinar. Read More

ALTA responds to CFPB’s inquiry on mortgage fees

The American Land Title Association is making it clear that it won’t have the Consumer Financial Protection Bureau ... just lenders who benefit from a lender’s title policy, but consumers ... Read More

What Is the Consumer Financial Protection Bureau (CFPB)?

The CFPB is an independent government agency that aims to protect consumers by enforcing federal consumer finance laws and supervising banks and lenders ... to credit for some consumers Concerns ... Read More