Tag Archives: Consumer

Rescissions of Policy Statements Illustrate Continued About-Face at CFPB

On March 31, 2021, the Consumer Financial Protection Bureau (“CFPB”) rescinded a range of policy statements issued under the leadership of former Director Kathleen L. Kraninger.  These rescissions concerned one policy statement governing communications between institutions subject to CFPB supervision and their examiners, and seven policy statements issued during the COVID-19 pandemic to provide regulatory … Continue Reading

CFPB Finalizes Amendments to Payday Lending Rule

Today, July 7, 2020, the Consumer Financial Protection Bureau (“CFPB”) released final amendments to its small-dollar lending rule published in November 2017 (the “2017 Rule”), specifically repealing the mandatory underwriting provisions of the rule.  The CFPB did not rescind or alter the payments provisions of the 2017 Rule, and instead ratified those provisions and will … Continue Reading

Warren Proposes Far-Reaching Consumer Bankruptcy Reforms

On January 7, 2020, the presidential campaign of Senator Elizabeth Warren released a plan to overhaul the consumer bankruptcy system in the United States. The plan would repeal means testing and other provisions of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act. It would also implement enhanced protections for consumer debtors who file for … Continue Reading

CFPB Releases Results of Survey on U.S. Consumer Financial Well-Being

On September 26, 2017, the Consumer Financial Protection Bureau (“CFPB”) released the results of its first national survey regarding the financial well-being of both specific groups of U.S. consumers and the population as a whole.  Designed as a component of the CFPB’s strategy for improving consumer financial capability, the National Financial Well-Being Survey was conducted … Continue Reading
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