Consumer Financial Protection Bureau
U.S. Government: Agencies/Departments/Divisions | Federal Agencies
Recent News About Consumer Financial Protection Bureau
-
Federal judge: CFPB can't use lending discrimination law to sue Townstone over 'innocuous' comments made on radio show
Mortgage broker Townstone Financial said the Consumer Financial Protection Bureau had attempted to use the lawsuit to illegally rewrite federal law and attack company officials for their speech. A judge said the law protects actual mortgage applicants from discrimination, not possible applicants -
BakerHostetler Elevates 23 Attorneys to Firm Partnership
BakerHostetler announced today that 23 lawyers have been elected to firm partnership effective Jan. 1. -
SCOTUS decision may doom feds' efforts to sue Townstone Financial over execs' talk radio speech: New filing
Chicago mortgage broker Townstone Financial says federal banking regulators overreached in using anti-discrimination regulations to sue them for comments made on the radio by Townstone executives -
Appeals panel says $59M in penalties for mortgage relief firms must be reworked
Lawyers weren't exempt from CFPB enforcement, but judge erred in calculating how much they should pay, the U.S. Seventh Circuit Court of Appeals ruled. -
You’ve been canceled!
Nowadays, it’s not just actors, writers, and producers on TV show that have to worry about being canceled. It can happen to anyone at any time for any reason, and going back five years in time and starting over isn’t an option. -
'Threat to everybody:' Townstone says feds mean to make example of them to expand regulatory power over lenders
Townstone Financial President Barry Sturner said he intends to continue fighting a federal regulatory complaint he said appears intended to chill speech federal agents disapprove of, under the rubric of fighting discrimination. -
Fifth Third Bank, executives win end of investor class action, for now, over unauthorized accounts
Judge says complaint doesn't show bank leaders knew all the details of federal investigation when addressing shareholders -
Townstone Financial: Fed action stretches law to let feds impose hiring quotas, dictate marketing, silence speech
Mortgage lender Townstone FInancial has asked a federal court to dismiss an action from the Consumer Financial Protection Bureau, accusing Townstone of discrimination for "discouraging" potential Black applicants on radio shows and insufficient marketing aimed at Black people -
Fifth Third says judge needs to dismiss class action 'piggybacking' on CFPB action
Complaint based on allegations of employees starting customer accounts without permission -
Feds say radio statements by Townstone Financial reps amount to 'redlining'; Townstone says it is attempt to 'cancel,' silence speech
Townstone Financial says the lawsuit is an attempt by activists to use the federal government to silence speech "the left" disagrees with. -
Class action: Fifth Third policies pressured bank workers to open accounts, other products without customer consent
The class action is the first such action vs the bank in Cook County, as lawsuits vs Fifth Third mount elsewhere. -
Attorney: States will enforce Consumer Financial Protection Bureau standards if feds don't
With the Trump administration pulling back on some traditional consumer protection activities by the Consumer Financial Protection Bureau, some states, including Illinois, are stepping in to try to continue the work of the bureau, which had been created under former President Obama, ostensiblyas part of the federal response to the Great Recession. -
Study on consumer lawsuit loans finds high rates, confusing terms
AUSTIN, Texas (Legal Newsline) - The broadest study yet of consumer litigation finance – money forwarded to lawsuit plaintiffs in anticipation of a victory in court or a legal settlement – found a “very complicated and circuitous” system in which some borrowers appear to subsidize others and the median interest rate exceeds 40%. -
Student loan holders accuse FedLoan Servicing of mishandling accounts, costing borrowers big bucks
Three Illinoisans have filed a class action complaint accusing student loan lenders of improperly cancelling loan repayment plans, misprocessing applications to income-driven repayment programs and improperly applying delinquency forbearances, causing borrowers to incur interest and potentially pay much more to repay their loans they otherwise should have. -
New CFPB ruling favoring group lawsuits called bad for America
A new rule from the U.S. Consumer Financial Protection Bureau (CFPB) that makes it easier for people to file class-action lawsuits against a bank or credit card company would make society yet more litigious, some attorneys say. -
CFPB's new rule 'large gift for class action lawyers'; Court challenges coming
As the director of a federal consumer protection agency seemingly fights for his job, he has gone ahead with plans to finalize a controversial rule – and a court challenge seems imminent. -
CFPB targets tribal lenders for breaking state usury laws, could have far-reaching impact
An expert on consumer financing law says a recent action filed by the Consumer Financial Protection Bureau in Chicago federal court could have far-reaching effects on tribal lending, and more generally, restrict the availability of some forms of consumer credit. -
Attorney general's consumer fraud suit against Westwood College will proceed in federal court; judge rejects requests to dismiss, remand
Illinois Attorney General Lisa Madigan's office will be allowed to continue to press its case against a for-profit college it claims deceived students into enrolling in programs that result in virtually worthless degrees and taking on large amounts of student debt to do so.However, Madigan's office must now litigate the suit in federal, rather than state court, after a federal judge earlier this month