Newsroom

Today, in the Consumer Financial Protection Bureau’s (CFPB) November 12, 2021 lawsuit against FirstCash, Inc., and nineteen subsidiaries alleging violations of the Military Lending Act (MLA), the parties reached a settlement and jointly filed a stipulated final judgment and proposed order, which if entered by the court, would resolve the lawsuit.

The CFPB is announcing that it will not prioritize enforcement actions taken on the basis of the Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans, 89 Fed. Reg. 47,068 (May 31, 2024) (“Buy Now, Pay Later”).

The CFPB is announcing that it will not prioritize enforcement or supervision actions with regard to entities that are currently outside the stay imposed under Texas Bankers Association v. CFPB, No. 24-40705 (CA5).

The Consumer Financial Protection Bureau will not prioritize enforcement or supervision actions for entities that do not satisfy future deadlines to submit registration information under the regulation titled "Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders".

The CFPB ordered the international remittance company Wise to pay nearly $2.5 million for a series of illegal actions.

The CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

The CFPB took action against Draper & Kramer Mortgage Corporation for discriminatory mortgage lending activities that discouraged homebuyers from applying to Draper for homes in majority-Black and Hispanic neighborhoods in the greater Chicago and Boston areas.

The CFPB ordered the American Honda Finance Corporation to pay $12.8 million for reporting inaccurate information that affected the credit reports of 300,000 people.

The CFPB ordered Block, the operator of the peer-to-peer payments app Cash App, to refund consumers $120 million and pay a penalty of $55 million.

The CFPB took action to resolve its case against the National Collegiate Student Loan Trusts for unlawfully filing defective debt collection lawsuits to collect on private student loan debt.

CFPB Director Rohit Chopra and General Counsel Seth Frotman published an article in the Harvard Journal on Legislation examining state enforcement as a federal legislative tool.

The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest.

The CFPB sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.

The CFPB sued Vanderbilt Mortgage & Finance for setting families up to fail when they borrowed money to buy a manufactured home.

Today, the CFPB sued Walmart and Branch Messenger for forcing delivery drivers to use costly deposit accounts to get paid and for deceiving workers— “last mile” drivers in Walmart’s Spark Driver program—about how they could access their earnings.

The CFPB sued Rocket Homes to stop providing incentives to real estate brokers and agents in exchange for steering homebuyers to Rocket Mortgage for loans.

La CFPB demandó al operador de Zelle y a tres de los bancos más grandes del país por no proteger a los consumidores del fraude que se extendió dentro de la red más grande disponible de pagos de persona a persona.

Director Chopra delivered remarks on consumers harmed by fraud on the Zelle payment network.

The Consumer Financial Protection Bureau (CFPB) sued the operator of Zelle and three of the nation’s largest banks for failing to protect consumers from widespread fraud on America’s most widely available peer-to-peer payment network.

The CFPB took action to address unlawful student loan debt collection practices by Performant Recovery, Inc. against defaulted borrowers.

The CFPB sued Comerica Bank for systematically failing its 3.4 million Direct Express cardholders - primarily unbanked Americans receiving federal benefits.

The CFPB is distributing $1.8 billion to 4.3 million consumers charged illegal junk fees by credit repair companies including Lexington Law and CreditRepair.com.

La CFPB y el DOJ emiten declaración conjunta afirmando que las instituciones no podrían usar estatus migratorio para ilegalmente discriminar a solicitantes de crédito.

The CFPB took action against student lender Climb Credit and its investors, including 1/0 (“One Zero”), which if entered will require the companies to stop making representations in their advertising about the quality of the training programs at their partner schools and graduates’ hiring rates and salaries.

The CFPB permanently banned Student Loan Pro and Judith Noh, its owner, from providing consumer financial products after violations of the Telemarketing Sales Rule.