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Archive for 'Consumer Financial Protection Bureau'
CFPB Considers Suing Student Loan Giant Navient For Cheating Borrowers
Federal regulators are considering suing Navient Corp., the nation’s largest student loan company, for allegedly cheating borrowers, the company said Monday. The Consumer Financial Protection Bureau, which has been investigating the company for nearly two years, sent Navient a letter...
Read MoreHonda Settles Discrimination Claims with Justice Department
Car manufacturer, American Honda Motor Co., reached a settlement on Tuesday to resolve allegations that the company discriminated against minority car buyers by marking up interest rates on loans, a practice industry experts describe as common because of the discretion...
Read MoreObama Admin Seeks to Expand MLA, Reduce Predatory Lending
The Obama Administration and the U.S. Department of Defense (DoD) are aiming to curtail predatory lending practices by expanding the protections offered to active service members and their families. These actions are intended to broaden the Military Lending Act (MLA), crushing...
Read MoreChase To Pay $389 Million Over Illegal Charges For Credit-Monitoring Services
JPMorgan Chase has agreed to pay out nearly a billion dollars to close investigations related to the 2012 “London Whale” trading fiasco, and now is told it must pay out $309 million in refunds and $80 million in penalties over...
Read MoreCFPB Issues New Rules for Supervising Debt Collectors
The Consumer Financial Protection Bureau on Tuesday unveiled new rules for supervising large debt-collection firms, marking the first time that industry will be subject to federal oversight. Starting Jan. 2, the government watchdog will regulate 175 debt-collection firms that each...
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