by Jeff Sovern The report is here. I played hooky from the AALS Financial Serices & Consumer Financial Services program to listen to the Bureau's simultaneous event to release the report (don't tell Rory Van Loo). I haven't read the voluminous report but some comments on the remarks at the event: I learned that when […]
Category Archives: Consumer Financial Protection Bureau
by Jeff Sovern The CFPB has posted to its website an announcement that it will hold an event on January 5 to announce the "findings, analyses, and recommendations" of its Taskforce on Federal Consumer Financial Law. Regular blog readers will recall that the Taskforce is not very diverse in a variety of ways. Earlier this […]
Bloomberg mentions her as a possibility, as well as FTC commissioner Rohit Chopra and Patrice Ficklin, the CFPB's Fair Lending Director.
On Saturday, we posted links to consumer advocates' reactions to the CFPB's new debt collection rules. Want to know how the industry sees the regulations, at least at first? Go here, to AccountsRecovery.net. Here's a hint: "there appeared to be no provisions or restrictions in the rule that should cause collection agencies to lose a […]
The new rules are here. NACA and other groups, calling the rules a "mixed bag for consumers," comment here. Consumer Reports ("CFPB rules fail to protect consumers from abusive debt collection harassment") comments here. The Bureau said it intends to issue more rules in December.
West has published the fifth edition of Dee Pridgen's Consumer Protection Law in a Nutshell, the best short introduction to consumer protection law and an extremely useful volume for students and practitioners alike (disclosure: I commented on the manuscript of the fourth edition and coauthor a casebook with Dee). Here are some of the bigger […]
Here's the press release (I'm afraid the formatting wasn't carried forward): Consumer Advocates Sue CFPB For Granting Financial Services Industry Illegal Influence Over Consumer Protection Policy Director Kraninger Unlawfully Formed the “Federal Consumer Financial Law Taskforce,” Stacked Group with Industry Representatives Secretive Taskforce Likely To Recommend Sweeping Rollback of Consumer Protections as Nation Grapples with […]
by Jeff Sovern As we previously noted, the CFPB's Conservative/Industry Taskforce created to make "recommendations for ways to improve and strengthen consumer financial laws and regulations" issued a request for information. Comments are due Monday, June 1. As far as I know, the deadline for commenting has not been extended, despite the fact that we […]
by Jeff Sovern Earlier this month, the CFPB issued a statement saying that during the pandemic, it would not enforce the 30-day deadlines for credit reporting agencies and furnishers to investigate reports of errors in credit reports, as long as they acted in good faith. I noted at the time that that would not appear […]