U.S. District Court Pauses Mass Firings at CFPB
CFPB Employees Union, NCLC, and Others Filed Motion to Show Cause After Layoffs Appear to Violate Court’s Preliminary Injunction
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CFPB Begins Firings and Ends Oversight of Nonbanks, Big Tech, and Critical Consumer Protection Areas
Internal Memo Outlines Plan to End CFPB Oversight of Payday Lenders, Most of the Mortgage Market, and to “Deprioritize” Medical Debt and Many Other Areas
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CFPB and Chamber of Commerce Move To Remove Limits on Credit Card Late Fees
Agreement to vacate $8 late fee regulation sidesteps federal law giving the public the right to comment. WASHINGTON, D.C. – Yesterday, the Consumer Financial Protection Bureau (CFPB) dealt a blow to struggling consumers by seeking to remove the cap on credit card late fees. The CFPB filed a joint agreement with the Chamber of Commerce and the…
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NY AG Lawsuit Shows Dangers of Fintech Payday Loan Bills
New data shows low-wage workers could pay $700/year or more under pending bills in Connecticut, Maryland, Massachusetts, New York, and other states NEW YORK – The New York Attorney General yesterday filed lawsuits against fintech payday lenders DailyPay and MoneyLion for violating the state’s usury rate laws and engaging in deceptive practices. The lawsuits reveal…
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CFPB to Revoke Guidance Prohibiting Debt Collectors from Collecting Medical Debts Not Owed
CFPB’s 2024 Guidance Sought to Prevent Deceptive and Unfair Medical Debt Collections BOSTON – Sick or injured people may be more likely to be confronted by debt collectors attempting to collect medical bills they do not owe in the near future. Despite significant research about the problems caused by medical debt, the Consumer Financial Protection…
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House Republicans Ignore Rising Prices, Vote to Keep $35 Big Bank Overdraft Fees
House votes to block CFPB’s $5 cap on big bank overdraft fees and oversight of big tech payment apps, building on tariff woes and high grocery costs.
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