UDAAP

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.

The CFPB ordered Village Capital & Investment in Henderson, Nev., to issue refunds and pay a penalty for allegedly misrepresenting the cost savings in a refi product.

Readers respond to the burgeoning debate over brokered deposits, consider the Democratic presidential hopefuls for 2020, weigh the Consumer Financial Protection Bureau's latest regulatory efforts and more.

Regulators typically write rules before applying them. But the CFPB is attempting the reverse.

Readers react to efforts to improve bank branches, weigh the Consumer Financial Protection Bureau's decision to pull back on enforcing the Military Lending Act, consider efforts to build finetch sandboxes and more.

The retiring chairman of the House Financial Services Committee defends his often uncompromising pursuit of rolling back post-crisis regulations.

The consumer bureau’s interim chief told an industry conference that “regulation by enforcement is done.”

The agency alleges that some customers made payments to the e-commerce group even though their accounts had already been sold to third-party debt buyers.

The consumer bureau alleges Future Income Payments lured vulnerable consumers into taking out high-cost loans in exchange for their future pension payments.

The New Jersey firm, which made loans to Sept. 11 first responders and pro football players diagnosed with brain injuries, was accused of usury. But a judge threw out the case, ruling that the New York attorney general lacks jurisdiction.

A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks and credit unions no longer have to collect the data either.