Collection Industry News

JANUARY 25, 2021

CFPB acting Director David Uejio doesn’t plan to wait for the Senate before getting to work on Biden administration priorities in areas such as racial justice and the Covid-19 response. Uejio has been with the CFPB since 2011 and worked with Chopra, who served as the bureau’s student loan ombudsman during the Obama administration.

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Collection Industry News

JUNE 14, 2021

The CFPB, which oversees financial institutions with a keen focus on consumer protection and ensuring financial markets are fair and equitable, was a diminished force during the Trump administration. In the meantime, acting CFPB Director David Uejio is taking his own steps to strengthen enforcement activities. Source: site.

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Collection Industry News

APRIL 11, 2022

“I am deeply concerned that borrowers are burdened by decades-old private student loan debt and potentially unlawful collection efforts,” Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra stated in the March 8 letter. “I

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Collection Industry News

JANUARY 19, 2021

The CFPB, championed by Warren, has been beloved by Democrats as a watchdog to help level the financial playing field for middle-class Americans but reviled by Republicans as too powerful and unaccountable. He would be able to stay at the FTC while keeping the CFPB post for about 300 days.

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Collection Industry News

MARCH 2, 2021

Unlike former CFPB Director Kathy Kraninger, a Trump appointee who had no previous experience in consumer finance, Chopra’s consumer protection background includes not only his time at the FTC but also a prior stint at the CFPB as the bureau’s student loan ombudsman. He is not going to suffer fools kindly.”. Bloomberg News.

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Troutman Sanders

JULY 12, 2021

Also, the order “[e]ncourages the Consumer Financial Protection Bureau (CFPB) to issue rules allowing customers to download their banking data and take it with them.” On June 30, the CFPB released a blog post regarding trends of commercial reporting on consumer credit. For more information, click here. For more information, click here.

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Troutman Sanders

OCTOBER 31, 2022

On October 20, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting agencies about their obligation to screen for and eliminate what the CFPB describes as “obviously false ‘junk data'” from consumers’ credit reports. For more information, click here. For more information, click here.

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Collection Industry News

NOVEMBER 6, 2023

Partnering with federal and state regulators: The Department cooperates with other government agencies, such as the Consumer Financial Protection Bureau (CFPB) and state attorneys general, which are tasked with enforcing consumer financial laws.

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Troutman Sanders

AUGUST 30, 2021

On August 25, the Consumer Financial Protection Bureau (CFPB) Ombudsman Wendy Kamenshine issued the 2021 Midyear Update , including news that the CFPB’s post-examination survey of supervised entities program is in the final development stages. billion, affecting over 563,000 borrowers. For more information, click here.

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