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Consumer Financial Protection Bureau (CFPB) Consumer Lenders Debt

Troutman Pepper

CFPB Report Highlights Challenges Facing Servicemembers and Veterans, Including Student Loans and Money Transfer/Virtual Currency...

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Yesterday, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly...more

Ballard Spahr LLP

CFPB’s Frotman: Companies are using technology to squeeze more out of those who can least afford it

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Innovation and technology are not the magic wands that will help low-income Americans climb out of debt; they often are tools used to prey on the neediest people, Seth Frotman, the CFPB’s general counsel told the Poverty Law...more

Ballard Spahr LLP

CFPB: Most debt collection complaints in 2023 were attempts to collect debts not owed

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The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report....more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Should Medical Debt Be Included in Creditworthiness Measures?

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The CFPB and state regulators and legislators have medical debt in their crosshairs. In this episode, we’re joined by Chris Eastman, CEO of the Pendrick Group, a Cerberus portfolio company that specializes in financial...more

Nelson Mullins Riley & Scarborough LLP

Who is Paying Who: The Employee or the Employer?

Since 2022, the Consumer Financial Protection Bureau (CFPB) has a stated priority of “protecting employees and their rights through conducting reports, inquiries, and issuing requirements for employers.” In July 2024, the...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

Democratic Senators urge continued CFPB scrutiny of buy-now-pay-later products

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Democratic Senator Sherrod Brown, who chairs the Senate Banking Committee, and Democratic committee members Raphael Warnock and John Fetterman, have sent a letter to Director Chopra urging the CFPB to “continue focusing on”...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - December 2023 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Shipkevich PLLC

CFPB Issues Bulletin to Warn Student Loan Servicers Who Ignore Bankruptcy Court Orders

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On March 16, 2023, the Consumer Financial Protection Bureau (CFPB) issued a bulletin cautioning loan servicers about their responsibility to stop any illegal activity related to private student loans that have been discharged...more

Holland & Knight LLP

Stakeholders Debate Public Policy Issues Surrounding Consumer Debt in America

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A number of diverse stakeholders gathered at George Mason University (GMU) on Nov. 18, 2019, to participate in a program entitled "Consumer Debt in America: What Would Rate Caps and Student Loan Forgiveness Mean?" The debate,...more

Ballard Spahr LLP

CFPB Issues Report on Final Student Loan Payments and Broader Household Borrowing

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The Consumer Financial Protection Bureau (CFPB) has issued a new report, Data Point: Final Student Loan Payments and Broader Household Borrowing, which examines repayment patterns for student loans and how borrowers who have...more

Ballard Spahr LLP

CFPB issues report on year-end credit card borrowing

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The CFPB has issued a report focusing on end-of-year credit card borrowing and repayment of credit card balances in the following year.  The report is based on data from the Bureau’s Consumer Credit Panel, a...more

Carlton Fields

CFPB Issues Statement Following Reports of Widespread Student Loan Servicing Failures

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The Consumer Financial Protection Bureau (CFPB) recently focused its attention on the student loan industry following alleged widespread servicing failures reported by borrowers and found by the CFPB's examinations and...more

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