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Six federal regulatory agencies today requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in real estate valuations.

https://www.consumerfinance.gov/about-us/newsroom/agencies-request-comment-on-quality-control-standards-for-automated-valuation-models-proposed-rule/

Keeping money inside your nonbank payment app might feel the same as a keeping money in a traditional bank account. But the money in your app might not be held in an account at an FDIC member ban...

https://www.consumerfinance.gov/about-us/newsroom/consumer-advisory-your-money-is-at-greater-risk-when-you-hold-it-in-a-payment-app-instead-of-moving-it-to-an-account-with-deposit-insurance/

The Bureau published an issue spotlight on digital payment apps heavily used by consumers and businesses.

https://www.consumerfinance.gov/about-us/newsroom/cfpb-finds-billions-of-dollars-stored-on-popular-payment-apps-may-lack-federal-insurance/

The Consumer Financial Protection Bureau (CFPB) has ordered installment lender OneMain Financial to pay $20 million in redress and penalties for failing to refund interest charged to 25,000 custo...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-installment-lender-onemain-to-pay-20-million-for-deceptive-sales-practices/

Today, the Consumer Financial Protection Bureau (CFPB) reached a settlement to resolve CFPB’s allegations that Citizens Bank violated consumer financial protection laws and rules that protect i...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-action-require-citizens-bank-pay-9-million-unlawful-credit-card-servicing/

Statement of CFPB Director Rohit Chopra on the FDIC’s Proposed Special Deposit Insurance Assessment on Large Banks

https://www.consumerfinance.gov/about-us/newsroom/statement-of-cfpb-director-rohit-chopra-member-fdic-board-of-directors-on-the-proposed-special-deposit-insurance-assessment-on-large-banks/

The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a co...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-guidance-to-rein-in-creation-of-fake-accounts-to-harvest-fees/

Prepared Remarks of General Counsel and Senior Advisor to the Director Seth Frotman at the Innovative Payments Conference

https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-general-counsel-and-senior-advisor-director-seth-frotman-at-innovative-payments-conference/

Today, the Consumer Financial Protection Bureau (CFPB) published a report on high-cost specialty financial products, such as medical credit cards, that are sold to patients as a way to alleviate ...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-highlights-costly-credit-cards-and-loans-pushed-on-patients/

Director Chopra delivered remarks at the May 4, 2023, meeting of the American Association of Healthcare Administration Management's Government Relations Committee and Executive Board

https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-director-rohit-chopra-american-association-healthcare-administration-management/

Director Chopra delivered keynote remarks on May 4, 2023 at the Anti-Monopoly Summit in Washington, DC hosted by the American Economic Liberties Project.

https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-cfpb-director-rohit-chopra-2023-american-economic-liberties-project-anti-monopoly-summit/

The Consumer Financial Protection Bureau (CFPB) proposed a rule to implement a Congressional mandate to establish consumer protections for residential Property Assessed Clean Energy (PACE) loans.

https://www.consumerfinance.gov/about-us/newsroom/cfpb-proposes-new-consumer-protections-for-homeowners-seeking-clean-energy-financing/

Today, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule amending the agency’s 2021 LIBOR transition rule.

https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-rule-to-facilitate-orderly-wind-down-of-libor/

Director Chopra hosted a discussion with local community organizations, advocates, leaders, and members of the public about “zombie” second mortgages and other debt collection issues.

https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-of-director-rohit-chopra-on-zombie-mortgage-debt/

Today, the Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies, along with state bank and state credit union regulators, in issuing a statement tha...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-joins-other-financial-regulatory-agencies-in-issuing-statement-on-completing-the-libor-transition/

Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-guidance-to-protect-homeowners-from-illegal-collection-tactics-on-zombie-mortgages/

Four federal agencies jointly pledged today to uphold America’s commitment to the core principles of fairness, equality, and justice as emerging automated systems, including those sometimes mar...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-federal-partners-confirm-automated-systems-advanced-technology-not-an-excuse-for-lawbreaking-behavior/

Director Chopra delivered remarks at the April 25, 2023, meeting of the Financial Literacy and Education Commission.

https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-director-rohit-chopra-april-2023-financial-literacy-education-commission/

Director Chopra provided remarks on an interagency press conference to announce the Joint Statement on Enforcement Efforts Against Discrimination and Bias in Automated Systems

https://www.consumerfinance.gov/about-us/newsroom/director-chopra-prepared-remarks-on-interagency-enforcement-policy-statement-artificial-intelligence/

Prepared remarks of CFPB Director Rohit Chopra on the proposed restoration of the FSOC’s authority to prevent shadow bank bailouts.

https://www.consumerfinance.gov/about-us/newsroom/statement-of-cfpb-director-rohit-chopra-on-proposed-restoration-of-financial-stability-oversight-council-authority-regulatory-credibility/

Director Chopra delivered prepared remarks on modern-day redlining at Seton Hall University.

https://www.consumerfinance.gov/about-us/newsroom/director-chopra-remarks-justice-department-interagency-event-combat-modern-day-redlining/

CFPB Office of Servicemember Affairs Assistant Director Jim Rice discusses recent CFPB efforts to understand the veteran financial experience, enforce the law, and coordinate efforts across the f...

https://www.consumerfinance.gov/about-us/newsroom/prepared-statement-of-james-s-rice-before-committee-on-veterans-affairs-united-states-senate/

Today, the Consumer Financial Protection Bureau (CFPB) announced a revised version of its “Methodology for Determining Average Prime Offer Rates.”

https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-revised-methodology-for-determining-average-prime-offer-rates/

Testimony of CFPB Senior Advisor Brian Shearer on Junk Fees Before the Pennsylvania House of Representatives Consumer Protection, Technology, and Utilities Committee

https://www.consumerfinance.gov/about-us/newsroom/testimony-cfpb-senior-advisor-brian-shearer-junk-fees-pennsylvania-house-of-representatives-consumer-protection-technology-utilities-committee/

Today, the Consumer Financial Protection Bureau (CFPB) took action against James R. Carnes and Melissa C. Carnes, both individually and as co-trustees of the James R. Carnes Revocable Trust and t...

https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-james-carnes-and-melissa-carnes-for-hiding-money-to-avoid-paying-for-illegal-payday-lending-business/