CFPB and Justice Department Caution Auto Finance Companies about Servicemember Protections

The Department of Justice and the Consumer Financial Protection Bureau (CFPB) issued a joint letter today reminding auto finance companies of their responsibilities to recognize important legal protections for military families under the Servicemembers…

The Department of Justice and the Consumer Financial Protection Bureau (CFPB) issued a joint letter today reminding auto finance companies of their responsibilities to recognize important legal protections for military families under the Servicemembers Civil Rights Act (SCRA). While servicemembers have the same rights as non-military borrowers, the SCRA provides additional rights to protect servicemembers and their families against unique financial challenges.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-justice-department-caution-auto-finance-companies-about-servicemember-protections/

CFPB Supervisory Report Finds Unlawful Auto Repossessions, Breakdowns in Credit Report Disputes

Today the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the second half of 2021. The report details key findings across consumer finan…

Today the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the second half of 2021. The report details key findings across consumer financial products and services.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-supervisory-report-finds-unlawful-auto-repossessions-breakdowns-in-credit-report-disputes/

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/

CFPB and NY Attorney General Sue Repeat Offender MoneyGram For Leaving Families High and Dry

The Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James today announced they are filing a lawsuit against MoneyGram International, Inc. and MoneyGram Payment Systems, Inc. (MoneyGram)—one of the largest remittance pr…

The Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James today announced they are filing a lawsuit against MoneyGram International, Inc. and MoneyGram Payment Systems, Inc. (MoneyGram)—one of the largest remittance providers in the U.S.—for systemically and repeatedly violating various consumer financial protection laws and leaving families high and dry.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-ny-attorney-general-sue-repeat-offender-moneygram-for-leaving-families-high-and-dry/

Director Chopra’s Prepared Remarks on the Lawsuit Against MoneyGram

Millions of individuals from around the world sacrifice proximity to their loved ones to seek a better life and financial stability in our country. But they know that on the other side, when their money transfers are received, they are supporting elder…

Millions of individuals from around the world sacrifice proximity to their loved ones to seek a better life and financial stability in our country. But they know that on the other side, when their money transfers are received, they are supporting elderly parents, siblings, spouses, and sometimes their own young children. Each year, American families send more than $100 billion abroad using international money transfers, also known as remittances.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/director-chopras-prepared-remarks-on-the-lawsuit-against-moneygram/

消費者金融保護局和紐約州檢察長起訴 讓家庭處於無助境地的慣犯速匯金

消費者金融保護局(CFPB)和紐約州檢察長Letitia James今天宣佈,他們將對美國最大匯款服務公司之一MoneyGram International, Inc.和MoneyGram Payment Systems, Inc.(簡稱「速匯金」(MoneyGram))提起訴訟,因爲他們系統性地、反复地違反各種消費者金融保護法,讓家庭處於無助境地。該訴訟特別指控該公司未能及時向國外收款人匯款,從而導致客戶等待匯款。…

消費者金融保護局(CFPB)和紐約州檢察長Letitia James今天宣佈,他們將對美國最大匯款服務公司之一MoneyGram International, Inc.和MoneyGram Payment Systems, Inc.(簡稱「速匯金」(MoneyGram))提起訴訟,因爲他們系統性地、反复地違反各種消費者金融保護法,讓家庭處於無助境地。該訴訟特別指控該公司未能及時向國外收款人匯款,從而導致客戶等待匯款。

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-ny-attorney-general-sue-repeat-offender-moneygram-for-leaving-families-high-and-dry-zh-traditional/

El CFPB y la fiscal general de Nueva York demandan a MoneyGram, infractor reincidente, por dejar varadas a familias.

La Oficina de Protección Financiera del Consumidor (CFPB, por sus siglas en inglés) y la Fiscal General de Nueva York, Letitia James, anunciaron hoy que presentarán una demanda contra MoneyGram International, Inc. y MoneyGram Payment Systems, Inc. (Mon…

La Oficina de Protección Financiera del Consumidor (CFPB, por sus siglas en inglés) y la Fiscal General de Nueva York, Letitia James, anunciaron hoy que presentarán una demanda contra MoneyGram International, Inc. y MoneyGram Payment Systems, Inc. (MoneyGram), uno de los mayores proveedores de remesas en los EE. UU., por violar sistemática y repetidamente varias leyes de protección financiera del consumidor y dejar a familias varadas.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/el-cfpb-y-la-fiscal-general-de-nueva-york-demandan-a-moneygram-infractor-reincidente-por-dejar-varadas-a-familias/

CFPB Director Chopra Statement on Edfinancial and Student Loan Cancellation for Public Service

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding Edfinancial and Student Loan Cancellation for Public Service.

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding Edfinancial and Student Loan Cancellation for Public Service.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-director-chopra-statement-on-edfinancial-and-student-loan-cancellation-for-public-service/

CFPB Sanctions Edfinancial for Lying about Student Loan Cancellation

The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.

The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sanctions-edfinancial-for-lying-about-student-loan-cancellation/

“Reining in Repeat Offenders”: 2022 Distinguished Lecture on Regulation, University of Pennsylvania Law School

Prepared remarks of Rohit Chopra at the University of Pennsylvania Law School.

Prepared remarks of Rohit Chopra at the University of Pennsylvania Law School.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/reining-in-repeat-offenders-2022-distinguished-lecture-on-regulation-university-of-pennsylvania-law-school/