Welcome to the CFPB Journal, your online publication for information about the Consumer Financial Protection Bureau.
If you work in financial services, you need CFPB Journal. Our team of seasoned reporters and editors brings you original coverage of the Bureau you won’t find anywhere else. Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Federal Reserve-housed Bureau has unprecedented authority, jurisdiction and power. Follow CFPB developments, learn how others are complying with CFPB rules, and monitor general public reaction to the Bureau by checking in often with the CFPB Journal.
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Spotlight
The Consumer Financial Protection Bureau released a finalized rule on March 5 that caps consumer credit card fees at $8 per incident. In response, some trade groups filed a federal lawsuit two days later seeking a preliminary injunction against the rule.
News
The Consumer Financial Protection Bureau will reportedly systematize requirements for open banking standards-setting organizations to ensure the requirements are fair.
Companies operating comparison-shopping tools can violate the law by sending consumers to certain products or lenders because of kickbacks, according to a Feb. 29 Consumer Financial Protection Bureau circular to law enforcement agencies and regulators.
The Consumer Financial Protection Bureau has established supervisory authority over installment lender World Acceptance.
Large banks are offering consumers inferior credit card terms and interest rates compared to their small bank and credit union peers, according to a Feb. 16 Consumer Financial Protection Bureau report.
The Consumer Financial Protection Bureau recently settled a foreclosure scam case by reaching a $12 million settlement with Consumer First Legal Group LLC.