The Consumer Financial Protection Bureau (CFPB) has proposed a settlement with credit repair companies Lexington Law and CreditRepair.com, imposing a $2.7 billion judgment and a 10-year ban on telemarketing credit repair services due to illegal collection of advance fees in violation of federal law.
A federal judge ruled that the U.S. Consumer Financial Protection Bureau (CFPB) does not have broad authority to address discriminatory banking practices, favoring financial industry groups that sued the regulator.
The Consumer Financial Protection Bureau (CFPB) is beginning a rulemaking process to remove medical bills from Americans' credit reports in order to help families recover financially from medical crises, prevent debt collectors from pressuring individuals to pay bills they may not owe, and address the inaccuracies and mistakes in medical billing data.
The Supreme Court is set to determine the constitutionality of the Consumer Financial Protection Bureau's funding structure, which could have significant implications for the agency's future and its actions since it was established in 2010.
The Supreme Court appears unlikely to strike down the Consumer Financial Protection Bureau (CFPB), despite arguments from former Trump Solicitor General Noel Francisco that the agency is unconstitutional; a decision against the CFPB could have severe economic consequences and undermine other federal programs.
The US Supreme Court is deciding whether the funding structure of the Consumer Financial Protection Bureau (CFPB) is legal, with payday lenders arguing that the funding arrangement is unconstitutional, though justices at the Supreme Court appeared skeptical of their arguments; a decision is expected next year, and Senator Elizabeth Warren hopes the court will decide in favor of the CFPB to prevent potential disruptions to people's lives and the economy.
Senator Elizabeth Warren defends the existence of the Consumer Financial Protection Bureau (CFPB) in a Supreme Court case, highlighting its role in protecting consumers and providing transparency in the marketplace.
Consumer Financial Protection Bureau Director Rohit Chopra expresses concern that if the Supreme Court invalidates the agency's funding structure, it would create uncertainty for the mortgage industry and cause difficulties for consumers, while also warning that the US payment system is moving towards a Chinese-style system that blurs the lines between banking, money, and payments.
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Freedom Mortgage Corporation for providing false data on its mortgage operations in violation of a law enforcement order, highlighting the agency's commitment to ending misconduct in the financial industry.
