CFPB Warns that Digital Marketing Providers Must Comply with Federal Consumer Finance Protections

Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule laying out when digital marketing providers for financial firms must comply with federal consumer financial protection law.

Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule laying out when digital marketing providers for financial firms must comply with federal consumer financial protection law.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-warns-that-digital-marketing-providers-must-comply-with-federal-consumer-finance-protections/

Director Chopra’s Prepared Remarks at the 2022 National Association of Attorneys General Presidential Summit

Director Chopra delivered remarks on digital marketing and advertising at the 2022 NAAG Presidential Summit in Des Moines, IA.

Director Chopra delivered remarks on digital marketing and advertising at the 2022 NAAG Presidential Summit in Des Moines, IA.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/director-chopras-prepared-remarks-at-the-2022-national-association-of-attorneys-general-presidential-summit/

Deputy Director Zixta Martinez’s Prepared Remarks at the FDIC Meeting of the Advisory Committee on Economic Inclusion

Deputy Director Martinez delivered opening remarks during the FDIC’s ComE-IN meeting on June 28, 2022.

Deputy Director Martinez delivered opening remarks during the FDIC’s ComE-IN meeting on June 28, 2022.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/deputy-director-zixta-martinezs-prepared-remarks-at-the-fdic-meeting-of-the-advisory-committee-on-economic-inclusion/

CFPB Issues Order to Terminate Upstart No-Action Letter

Today, the Consumer Financial Protection Bureau (CFPB) issued an order to terminate Upstart Network from its list of approved “no-action letters.” The CFPB had granted special regulatory treatment to Upstart by immunizing the lender from being charged …

Today, the Consumer Financial Protection Bureau (CFPB) issued an order to terminate Upstart Network from its list of approved “no-action letters.” The CFPB had granted special regulatory treatment to Upstart by immunizing the lender from being charged with fair lending law violations with respect to its underwriting algorithm, while the “no-action letter” remained in force. Upstart requested an amendment to the “no-action letter” that would effectively seek an immediate termination.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-order-to-terminate-upstart-no-action-letter/

CFPB Invokes Dormant Authority to Examine Nonbank Companies Posing Risks to Consumers

The Consumer Financial Protection Bureau (CFPB) announced that it is invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers.

The Consumer Financial Protection Bureau (CFPB) announced that it is invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-invokes-dormant-authority-to-examine-nonbank-companies-posing-risks-to-consumers/

Consumer Financial Protection Bureau Launches Initiative to Save Americans Billions in Junk Fees

Today, the Consumer Financial Protection Bureau (CFPB) launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies. Today’s request is a chance for the public to share…

Today, the Consumer Financial Protection Bureau (CFPB) launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies. Today’s request is a chance for the public to share input that will help shape the agency’s rulemaking and guidance agenda, as well as its enforcement priorities in the coming months and years.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-launches-initiative-to-save-americans-billions-in-junk-fees/

Prepared Remarks of CFPB Director Rohit Chopra on the Junk Fees RFI Press Call

This week, President Biden convened members of his cabinet and other agency heads to talk about actions we can take in a whole-of-government approach to spur competition in our economy.

This week, President Biden convened members of his cabinet and other agency heads to talk about actions we can take in a whole-of-government approach to spur competition in our economy.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-of-cfpb-director-rohit-chopra-on-the-junk-fees-rfi-press-call/

CFPB Orders Tech Giants to Turn Over Information on their Payment System Plans

Today, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the United States. The information will help the CFPB better u…

Today, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the United States. The information will help the CFPB better understand how these firms use personal payments data and manage data access to users so the Bureau can ensure adequate consumer protection.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-tech-giants-to-turn-over-information-on-their-payment-system-plans/

Consumer Financial Protection Bureau Issues Report Finding a Continued Decline in College Credit Card Agreements in 2020

The Consumer Financial Protection Bureau (CFPB) today released a report on the agreements signed between credit card issuers and colleges, or organizations affiliated with colleges, finding that the market for college credit cards continued its general…

The Consumer Financial Protection Bureau (CFPB) today released a report on the agreements signed between credit card issuers and colleges, or organizations affiliated with colleges, finding that the market for college credit cards continued its general trend of decline in 2020.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-report-finding-a-continued-decline-in-college-credit-card-agreements-in-2020/

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/