CFPB Sues ACE Cash Express for Concealing No-Cost Repayment Plans and Improperly Withdrawing Consumers’ Funds

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit today accusing payday lender ACE Cash Express of concealing free repayment plans from struggling borrowers. Because of ACE’s illegal practices, individual borrowers paid hundreds or thousa…

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit today accusing payday lender ACE Cash Express of concealing free repayment plans from struggling borrowers. Because of ACE’s illegal practices, individual borrowers paid hundreds or thousands of dollars in reborrowing fees, when they were in fact eligible for free repayment plans.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-ace-cash-express-for-concealing-no-cost-repayment-plans-and-improperly-withdrawing-consumers-funds/

Deputy Director Zixta Martinez’s Keynote Address at the Consumer Federation of America’s 2022 Consumer Assembly

Deputy Director Martinez delivered keynote remarks at the 2022 Consumer Assembly on June 15, 2022.

Deputy Director Martinez delivered keynote remarks at the 2022 Consumer Assembly on June 15, 2022.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/deputy-director-zixta-martinezs-keynote-address-at-the-consumer-federation-of-americas-2022-consumer-assembly/

Deputy Director Martinez’s Opening Remarks to the Academic Research Council

Deputy Director Martinez remarks at the April 8, 2022 Academic Research Council

Deputy Director Martinez remarks at the April 8, 2022 Academic Research Council

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/deputy-director-martinezs-opening-remarks-to-the-academic-research-council/

CFPB Finds Payday Borrowers Continue to Pay Significant Rollover Fees Despite State-Level Protections and Payment Plans

A report published today by the Consumer Financial Protection Bureau (CFPB) shows few payday loan borrowers are benefiting from no-cost extended payment plans, which are required to be offered to borrowers in the majority of states that do not prohibit…

A report published today by the Consumer Financial Protection Bureau (CFPB) shows few payday loan borrowers are benefiting from no-cost extended payment plans, which are required to be offered to borrowers in the majority of states that do not prohibit payday lending.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finds-payday-borrowers-continue-to-pay-significant-rollover-fees-despite-state-level-protections-and-payment-plans/

Statement by CFPB Acting Director Uejio on CFPB Victory in Legal Challenge to Payday Lending Rule Protections

CFPB Acting Director Dave Uejio issued a statement after the U.S. District Court for the Western District of Texas upheld the Payment Provisions in the CFPB’s 2017 rule on payday, vehicle title, and certain high-cost installment loans.

CFPB Acting Director Dave Uejio issued a statement after the U.S. District Court for the Western District of Texas upheld the Payment Provisions in the CFPB’s 2017 rule on payday, vehicle title, and certain high-cost installment loans.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/statement-cfpb-acting-director-uejio-cfpb-victory-in-legal-challenge-to-payday-lending-rule-protections/

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/

Consumer Financial Protection Bureau Issues Final Rule on Small Dollar Lending

The Consumer Financial Protection Bureau today issued a final rule concerning small dollar lending in order to maintain consumer access to credit and competition in the marketplace.

The Consumer Financial Protection Bureau today issued a final rule concerning small dollar lending in order to maintain consumer access to credit and competition in the marketplace.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-final-rule-small-dollar-lending/

Consumer Financial Protection Bureau Settles with Short-term Lenders for Engaging in Unfair and Deceptive Acts and Practices

The Consumer Financial Protection Bureau announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries.

The Consumer Financial Protection Bureau announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-settles-short-term-lenders-engaging-unfair-deceptive-acts-practices/

Consumer Financial Protection Bureau, South Carolina, and Arkansas File Suit Against Brokers of High-Interest Credit Offers

The Consumer Financial Protection Bureau (Bureau), the South Carolina Department of Consumer Affairs (South Carolina), and Arkansas Attorney General Leslie Rutledge filed a lawsuit in federal district court in the District of South Carolina against Can…

The Consumer Financial Protection Bureau (Bureau), the South Carolina Department of Consumer Affairs (South Carolina), and Arkansas Attorney General Leslie Rutledge filed a lawsuit in federal district court in the District of South Carolina against Candy Kern-Fuller, Howard Sutter III, and Upstate Law Group LLC. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-south-carolina-arkansas-file-suit-against-brokers-of-high-interest-credit-offers/

CFPB, Arkansas State AG Settle with Brokers of High-Interest Credit Offers

The Consumer Financial Protection Bureau (Bureau) and the Office of the Arkansas Attorney General today filed a proposed settlement with Andrew Gamber; Voyager Financial Group, LLC; BAIC, Inc.; and SoBell Corp. 

The Consumer Financial Protection Bureau (Bureau) and the Office of the Arkansas Attorney General today filed a proposed settlement with Andrew Gamber; Voyager Financial Group, LLC; BAIC, Inc.; and SoBell Corp. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-arkansas-state-ag-settle-brokers-high-interest-credit-offers/