UDAAP

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

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

In the past, the agency cited the legal term in enforcement actions without stating what it meant, but Director Kathy Kraninger has sought to give the industry clearer guidance.

It should offer some form of guidance to spur innovation, a former official with the bureau says.

It should offer some form of guidance to spur innovation, a former official with the bureau says.

During a probe that grew out of the Wells Fargo scandal, BofA has acknowledged instances of "potentially unauthorized" accounts but said that the number of examples was "vanishingly small."

The debate over the CFPB's plan to revamp its payday lending regulation should focus on the benefits for borrowers.

Four advocacy groups questioned why the consumer bureau did not ask a judge to lift a stay of the rule's payment provisions.

As the Federal Credit Union Act turns 85, industry figures are working on issues related to executive compensation, UDAAP and more, all while girding for a slowdown in membership and loan growth.

The agency announced the series in April as an effort to encourage public dialogue on policy issues.

The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans would undermine states' ability to enforce their own laws.

The official told lawmakers Thursday that the research underlying the bureau's 2017 payday rule proposal did not support strict underwriting requirements of small-dollar loans.

A panel of federal judges determined that Think Finance and an online tribal payday lender must comply with state interest rate and licensing laws.

The proposed rollback of underwriting requirements for small-dollar lenders could redefine a legal doctrine that governs rules affecting other companies as well.

In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.

In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.

The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.

When a Columbia University professor surveyed 1,000 payday loan customers, little did he know that the resulting research report would become a lightning rod in the drafting of rules for small-dollar lenders.

The agency is expected soon to propose a revamp of the 2017 regulation that would eliminate the ability-to-repay provisions, which small-dollar lenders saw as a direct threat to their business.

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.