The CFPB announced that it has entered into a consent order with First National Bank of Omaha to settle charges that the bank engaged in unfair or deceptive acts or practices in connection with the marketing and sale of credit card add-on products and the billing of consumers for such products.
The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on mortgage lenders’ and debt collectors’ radar.
The Chamber of Commerce of the United States of America (Chamber) has filed an amicus brief opposing the CFPB’s petition filed in the Eastern District of Pennsylvania to enforce its civil investigative demand (CID) issued to J.G. Wentworth, LLC (JGW).
In my blog post yesterday, I shared my concerns regarding the potential consequences of the CFPB’s proposed 30-day hold on all collection contacts after the date of a consumer’s death.
CFPB Report On Community Networks to Combat Elder Financial Abuse and Resource Guide Highlight Role of Financial Institutions
The CFPB has issued a new elder financial abuse report, “Report and Recommendations: Fighting Elder Financial Exploitation through Community Networks,” and a related resource guide, “A Resource Guide for Elder Financial Exploitation Prevention and Response Networks.”
Without an announcement, the CFPB has proposed a rule that would expand its discretion to share confidential supervisory information (CSI) with state attorneys general and other agencies that do not have supervisory authority over companies.
This blog post is the first of two on the proposals being considered by the CFPB regarding the collection of decedent debt.
The CFPB’s Student Loan Ombudsman has released a new “Mid-year update on student loan complaints” that highlights issues related to income-driven repayment plan (IDR) application issues.