CFPB Sues LendUp Loans for Violating 2016 Consent Order and Deceiving Borrowers

The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing LendUp Loans, LLC of violating a 2016 consent order and deceiving tens of thousands of borrowers.

The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing LendUp Loans, LLC of violating a 2016 consent order and deceiving tens of thousands of borrowers.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-lendup-loans-for-violating-2016-consent-order-and-deceiving-borrowers/

CFPB Proposes Rule to Shine New Light on Small Businesses’ Access to Credit

The Consumer Financial Protection Bureau (CFPB) today proposed a new rule designed to help small businesses gain access to the credit they need and deserve by increasing transparency in the lending marketplace.

The Consumer Financial Protection Bureau (CFPB) today proposed a new rule designed to help small businesses gain access to the credit they need and deserve by increasing transparency in the lending marketplace.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-proposes-rule-to-shine-new-light-on-small-businesses-access-to-credit/

Remarks of Acting Director Dave Uejio at the Press Call on the Small Business Lending Proposed Rule

Acting Director Dave Uejio remarks at the press call on the small business lending proposed rule.

Acting Director Dave Uejio remarks at the press call on the small business lending proposed rule.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/remarks-acting-director-dave-uejio-press-call-small-business-kending-proposed-rule/

CFPB Takes Action Against Debt Collector for Failing to Investigate Reports of Identity Theft and Misrepresenting Consumers’ Debts

The Consumer Financial Protection Bureau (CFPB) yesterday filed a proposed settlement to resolve a lawsuit against a debt collection enterprise and its owner. The CFPB alleges that Fair Collections & Outsourcing (FCO) violated federal law by failin…

The Consumer Financial Protection Bureau (CFPB) yesterday filed a proposed settlement to resolve a lawsuit against a debt collection enterprise and its owner. The CFPB alleges that Fair Collections & Outsourcing (FCO) violated federal law by failing to establish or implement reasonable written policies and procedures regarding the accuracy and integrity of the information it furnished to credit reporting agencies and failed to conduct reasonable investigations of indirect consumer disputes, resulting in inaccurate information remaining on consumers’ credit reports.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-actions-against-debt-collector-for-failing-to-investigate-reports-of-identity-theft-and-misrepresenting-consumers-debts/

Prepared Remarks of Acting Director Uejio For AFR’s Celebration of the CFPB’s 10th Birthday

Acting Director Dave Uejio remarks at the Americans for Financial Reform’s Celebration of the CFPB’s 10 Year Anniversary.

Acting Director Dave Uejio remarks at the Americans for Financial Reform’s Celebration of the CFPB’s 10 Year Anniversary.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-acting-director-uejio-afrs-celebration-cfpbs-10th-birthday/

Prepared Remarks of Acting Director Dave Uejio at the National Association of Attorneys General Spring Consumer Protection Conference

Acting Director Dave Uejio remarks at the National Association of Attorneys General Spring Consumer Protection Conference.

Acting Director Dave Uejio remarks at the National Association of Attorneys General Spring Consumer Protection Conference.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-of-acting-director-dave-uejio-at-the-national-association-of-attorneys-general-spring-consumer-protection-conference/

CFPB Submits 2020 Report to Congress on the Administration of the Fair Debt Collection Practices Act

The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) …

The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) to protect consumers, particularly those who have suffered profound financial impacts due to the COVID-19 pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-submits-2020-report-to-congress-on-the-administration-of-the-fair-debt-collection-practices-act/

Consumer Financial Protection Bureau Rescinds Abusiveness Policy Statement to Better Protect Consumers

On March 11, 2021, the Consumer Financial Protection Bureau announced it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”

On March 11, 2021, the Consumer Financial Protection Bureau announced it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-rescinds-abusiveness-policy-statement-to-better-protect-consumers/

Consumer Financial Protection Bureau and Virginia, Massachusetts, and New York Attorneys General Sue Libre for Predatory Immigrant-Services Scam

On February 22, 2021, the Consumer Financial Protection Bureau – in partnership with Virginia, Massachusetts, and New York – sued Libre by Nexus, Inc., and its owners for a predatory immigrant-services scam that traps victims into paying expensive, lon…

On February 22, 2021, the Consumer Financial Protection Bureau - in partnership with Virginia, Massachusetts, and New York - sued Libre by Nexus, Inc., and its owners for a predatory immigrant-services scam that traps victims into paying expensive, long-term fees.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-and-virginia-massachusetts-and-new-york-attorneys-general-sue-libre-for-predatory-immigrant-services-scam/

Consumer Financial Protection Bureau Settles with LendUp Loans, LLC for Military Lending Act Violations

On January 19, 2021, the Consumer Financial Protection Bureau filed a proposed settlement to resolve its December 4, 2020 lawsuit against LendUp Loans, LLC alleging violations of the Military Lending Act.

On January 19, 2021, the Consumer Financial Protection Bureau filed a proposed settlement to resolve its December 4, 2020 lawsuit against LendUp Loans, LLC alleging violations of the Military Lending Act.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-with-lendup-loans-llc-for-military-lending-act-violations/