The allegations by Rep. Patrick McHenry and others were a response to a CFPB interpretive rule, even though states use their own laws prohibiting unfair and deceptive acts and practices.

The Consumer Financial Protection Bureau claimed that Hyundai Capital America hurt borrowers by incorrectly reporting they were late on payments.

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

The Texas company concealed no-cost repayment plans from borrowers and collected “hundreds of millions of dollars” in reborrowing fees, the agency said.

The agency’s mission is popular with the public, which has a long memory when it comes to the past misdeeds of the banking industry.

The Federal Deposit Insurance Corp., which protects customers in the event of certain types of bank failures, is looking into how the bankrupt digital-asset firm Voyager Digital marketed itself to customers, a spokesperson for the agency said.

The agency issued an advisory opinion warning that credit reporting bureaus and other entities using credit checks can no longer use disclaimers to bypass privacy protections.

The Consumer Financial Protection Bureau ended special regulatory treatment of the financial services company’s earned wage access products. Payactiv says it requested the action after a disagreement with the agency.

In a new interpretative rule filed Tuesday, the agency gave states a green light to expand on federal laws that protect consumers from unfair treatment by credit reporting agencies.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, is laying the groundwork to potentially declare that Facebook and another Big Tech firms pose risks to consumers.

The Consumer Financial Protection Bureau’s unified agenda was quietly released this week, and it shows that rules on consumer access to financial records and small-business data collection are top priorities. 

The Consumer Financial Protection Bureau issued a proposal that could ultimately lead to tougher limits on what banks and other issuers charge cardholders for late payments.

Without a rule standardizing data sharing standards, the Consumer Financial Protection Bureau risks the creation of a patchwork system of privacy standards as consumers seek the benefits of an open banking ecosystem.

The Consumer Financial Protection Bureau sent a mass email to thousands of the bank's customers and former employees to gather information about the possible creation of phony accounts. Critics — including a federal judge — say the CFPB asked leading questions and may have overstepped its bounds.

The agency’s proposed data collection and reporting requirements would disproportionately burden community banks, which lead the nation in small-business lending.

On the issue of large regional mergers, former FDIC heads Sheila Bair and Thomas Hoenig said that presuming banks with more than $100 billion of assets are systemically important is “regulatory overreach.”

The Federal Deposit Insurance Corp. and the Consumer Financial Protection Bureau are taking steps to crack down on cryptocurrency and other fintech companies that improperly suggest their products have deposit insurance.

The Consumer Financial Protection Bureau is hiring more enforcement attorneys, building out its capacity for data collection related to fair-lending exams.

In order to align financial policy with the interests of consumers, the agency should consider why these services have caught on — and remember to keep a lane open for innovation.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.