CFPB Archives

Lawsuit Challenges Trump Administration’s Illegal Effort to Shut Down CFPB

February 13, 2025

Update: On Feb. 14, Judge Amy Berman Jackson ordered that the defendants cannot delete any CFPB records or data, cannot terminate CFPB employees, and cannot return CFPB funds pending a preliminary injunction hearing scheduled for March 3. National Treasury Employees Union (NTEU), National Consumer Law Center, National Association for the Advancement of Colored People (NAACP),…

Bill to Overturn CFPB Overdraft Fee Rule Would Hurt Families, Allow Big Banks to Keep $5 Billion in Excessive Fees

February 13, 2025

Sen. Tim Scott (SC) and Rep. French Hill (AR) Introduced Resolutions to Overturn a CFPB Rule Capping Big Bank Overdraft Fees at $5

Unlawful Shut Down of Consumer Agency Endangers Working Families, Honest Businesses, the Economy

February 10, 2025

Consumer advocates warned today that the illegal effort by the Trump Administration to shut down the Consumer Financial Protection Bureau (CFPB) endangers the entire economy.

CFPB Orders Equifax to Pay $15 Million Over Failure to Remove Errors on Credit Reports

January 17, 2025

Today, the Consumer Financial Protection Bureau (CFPB) ordered Equifax, one of the “Big Three ” nationwide consumer credit reporting agencies, to pay a $15 million penalty for conducting faulty and inadequate investigations when consumers disputed errors on their credit reports, in violation of the Fair Credit Reporting Act.

Bloomberg Law: Medical Debt Struck From Credit Reports in Final CFPB Rule

January 7, 2025

Appearing in Bloomberg Law on January 7, 2025, Evan Weinberger interviews Chi Chi Wu to discuss action to scrap medical debt from consumer credit reports and how Republican lawmakers and the credit reporting industry will likely push to overturn the changes. “Medical debt has damaged the financial record of tens of millions for far too…

American Banker: Recent CFPB rules face repeal with no return under Trump

January 6, 2025

Appearing in American Banker on January 6, 2025, Kate Berry interviews NCLC Associate Director Lauren Saunders for coverage of how the incoming Trump administration is expected to seek the repeal of some regulations finalized by the Consumer Financial Protection Bureau. On the chopping block are rules finalized by the CFPB since August, the six-month lookback…

USA Today: Here are your top tips for a financially healthy 2025

December 29, 2024

Appearing in USA Today on December 29, 2024, Russ Wiles interviewed NCLC Senior Attorney Carla Sanchez-Adams to discuss the CFPB’s new rule to limit costly overdraft fees and caution that it faces the risk of being overturned by Congress with simple majority votes in the Senate and House, with limited debate. Overdraft fees are “a…

CFPB Sues Experian Over Failure to Remove Errors on Credit Reports

January 7, 2025

Experian Accused of Improperly Investigating Disputes, Threatening Consumers’ Access to Credit

CFPB Rule Removes Medical Debts from Credit Reports

January 7, 2025

Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule to stop the harmful impact of medical debt on consumers’ credit scores.

CFPB Sues Zelle and Three Major Banks for Enabling Payment Fraud

December 20, 2024

Action Against Owners of Zelle Will Improve Consumer Safety, Reduce P2P Fraud

Op-Ed: Are fintech sandboxes a consumer protection desert? (The Hill)

November 28, 2018

In an op-ed appearing in The Hill on November 28, 2018, NCLC Associate Director Lauren Saunders discusses “Fintech sandboxes.” The Consumer Financial Protection Bureau (CFPB) recently proposed a disclosure sandbox, the Arizona attorney general has adopted a fintech sandbox, and both legislators and regulators in Washington are discussing ways to use sandboxes to promote financial innovation. But…

Final PACE Rule Will Protect Homeowners, Improve Mortgage Performance

December 17, 2024

Consumer Advocates and Mortgage Banking Groups Welcome Long-Awaited Rule to Provide Stability to Property Assessed Clean Energy Loans

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