CFPB’s Recent Rule Eliminates Medical Debt from Credit Reports
On January 7, 2025, the Consumer Financial Protection Bureau (“CFPB”) published a final Rule (the “Rule”) that prohibits consumer reporting agencies from including individuals’ medical debt on consumer credit reports.
CFPB fines Equifax $15 million over errors on credit reports
The Consumer Financial Protection Bureau fined Equifax $15 million for credit reporting errors. The CFPB alleged the credit bureau failed to properly investigate consumer disputes. Credit reports have a significant impact on consumer finances,
US consumer bureau fines Equifax $15 million over handling of consumer disputes
In a statement, a spokesperson for Equifax said the settlement "turns the page" on the matter, which it first disclosed in 2022.
CFPB Orders Credit Reporting Agency to Pay $15 Million for Mishandling Consumer Disputes
On January 17, 2025, the CFPB issued a consent order against a large consumer reporting agency for failing to properly investigate consumer disputes concerning inaccurate information on consumers’ credit reports.
Equifax ordered to pay $15 million for improper investigations regarding credit card errors
The Consumer Financial Protection Bureau (CFPB) this week ordered Equifax to pay $15 million for failing to conduct proper investigations regarding credit card errors, according to a press release. Equifax,
Equifax Fined $15M For Inaccurate Credit Scores, Mishandling Disputes: CFPB
One of the nation’s largest credit reporting agencies has been fined $15 million for issuing inaccurate credit scores and failing to properly investigate consumer disputes, officials said. Equifax will pay the fine into the Consumer Financial Protection Bureau's victims relief fund,
Will Trump kill the CFPB? The bureau’s future is unclear under the new administration
The CFPB is widely seen as a key ally of American consumers, but critics say it costs too much and stifles innovation.
National Mortgage News6h
Mortgage industry lawsuits: Rocket, PNC and CFPB actions
Cases involving accusations of redlining, kickbacks, underpaid employees and more swept across the mortgage industry in ...
American Banker2d
Trump's day one: Fire Chopra, reset CFPB, elevate crypto
A one-page outline of priorities for Trump's inauguration day obtained American Banker includes financial policy items, ...
The American Spectator4d
Federal Agency Gone Wild: Why the CFPB Needs Immediate Reform — and a New Chair
With President Joe Biden’s term nearly over, federal agencies should be winding down activities for the year and preparing ...
JD Supra23h
CFPB issues new proposal to ban certain financial contract terms
On January 13, the CFPB proposed a new rule to ban large banks and consumer finance companies from using certain contractual provisions in ...
Capital One allegedly cheated customers out of $2 billion in interest, CFPB claims
The CFPB is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts.
CFPB sued for trying to regulate digital payment apps more like banks
Two major tech trade groups are challenging the Consumer Financial Protection Bureau’s (CFPB) effort to treat payment apps ...
JD Supra23h
CFPB issues compendium of bureau guidance issued between October 2021 and January 2025
As the Biden Administration came to a close, the CFPB released a compendium of guidance documents issued by the bureau between October 2021 ...
Tech groups sue US CFPB to block rule on payment apps, digital wallets
Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the ...
CFPB Resolves Flurry of Enforcement Actions in Biden's Final Week
The Consumer Financial Protection Bureau filed one lawsuit and reached five settlements last week, totaling nearly $206.6 ...