The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021.

The consumer bureau said Approved Cash Advance improperly collected amounts that were five times higher the legitimate fee schedule disclosed to borrowers.

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.

The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.

The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.

If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial institutions would face long odds.

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

Complaints to the CFPB hit an all-time high, with mortgage servicers getting much of the fire; Frank Bisignano details his priorities as Fiserv’s new CEO; lenders worry they could be stuck with billions in Paycheck Protection Program loans; and more from this week’s most-read stories.

With the pandemic's economic toll leading to elevated billing error notices, the consumer bureau said card companies will not be cited if they fail to meet the typical time frame for resolving disputes.