CFPB Resource Center

  • December 18, 2015
    CFPB Takes Action against Auto Dealer On Thursday, December 17, 2016, the CFPB announced action against CarHop, one of the country's biggest "buy-here, pay-here" auto dealers, and its affiliated financing company, Universal Acceptance Corporation, for allegedly providing damaging, inaccurate consumer information to credit reporting companies. The parties also allegedly failed to provide accurate...
  • December 11, 2015
    CFPB Brings Enforcement Action against Debt Collector On Monday, December 7, 2015, the CFPB filed a civil complaint in federal court against EOS CCA, a Massachusetts-based debt buying and collection firm. The Bureau alleges EOS violated the Fair Debt Collection Practices Act and Dodd-Frank's ban on unfair, deceptive or abusive acts and practices when it collected on cellphone debt purchased from...
  • December 4, 2015
    Bureau Releases CARD Act Report On Thursday, December 3, 2015, the CFPB released its biyearly report on the effects of Credit Card, Accountability, Responsibility and Disclosure (CARD) Act on consumer credit. Signed into law in May of 2009, the Bureau assumed authority for the Act in July 2011. The law directs the CFPB to regularly review the credit card market and the impact of the law's rules...
  • November 20, 2015
    CFPB Releases Updates to Rulemaking Agenda On Friday, November 20, 2015, the CFPB released its semiannual rulemaking agenda as part of the federal government's Unified Agenda of Regulatory and Deregulatory Actions. Part of the CFPB's mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. The agenda includes rulemaking...
  • November 13, 2015
    CFPB Announces New Planning for Retirement Tool On Thursday, November 12, 2015, the CFPB, Social Security Administration (SSA) and Brookings Institution held a joint event , in Washington, D.C., on retirement planning. The event featured remarks from CFPB Director Richard Cordray and SSA Acting Commissioner Carolyn Colvin. The Bureau and SSA introduced an online tool aimed at helping consumers...
  • November 6, 2015
    CBA Comments on CFPB Overdraft Survey On Tuesday, November 3, 2015, CBA filed a comment letter in response to the CFPB's request to the Office of Management and Budget to conduct a survey as part of its study of overdraft protection services. On September 9, 2015, the CFPB published a notice in the Federal Register seeking approval for a web-based consumer survey on overdraft services. This first...
  • October 30, 2015
    CFPB Takes Aim at Employment Background Screening Report Providers On Thursday, October 29, 2015, the CFPB announced an enforcement action against two of the largest employment background screening report providers - General Information Services and its affiliate, e-Background-checks.com, Inc. In the consent order , the Bureau alleged the companies violated the Fair Credit Reporting Act by...
  • October 23, 2015
    Bureau's Consumer Advisory Board Talks LEP Consumers, Arbitration On Thursday, October 22, 2015, the CFPB Consumer Advisory Board met to discuss ways to serve limited English proficiency (LEP) consumers and the agency's recent arbitration actions. The Bureau indicated its Education and Engagement Division published a Glossary of Financial Terms and Newcomer Guides in different languages to help...
  • October 16, 2015
    CFPB Student Loan Ombudsman Issues Annual Report On October 14, 2015, Acting CFPB Student Loan Ombudsman Seth Frotman issued the Student Loan Ombudsman Annual Report , which included an analysis of student lending related complaints submitted between October 1, 2014 and September 30, 2015. The report focused on the repayment rates of private loans guaranteed by the federal government through the...
  • October 9, 2015
    Clinton Lays Out Financial Reform Plan Ahead of the first Democratic Presidential Debate, this Tuesday, October 13, 2015, presidential candidate Secretary Hillary Clinton released a financial regulatory reform plan entitled: "Wall Street Should Work for Main Street." With her regulatory plan, Secretary Clinton aims to defend Dodd-Frank and reduce dangerous risks in the financial system, hold both...

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