A recently filed lawsuit claims the ratings assigned by A.I. screening software are similar to those of a credit agency and should be subject to the same laws.
Category: Consumer Financial Protection Bureau
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Trump Calls for 10 Percent Credit Card Interest Cap, After Killing Other Fee Limits
The president revived a campaign promise he has not actively pursued since taking office.
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Judge Rules That Trump Administration Must Continue to Fund CFPB
The Trump administration had tried to defund the Consumer Financial Protection Bureau, which acts as a guardrail for the safety of the financial system.
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Consumer Bureau’s Bank Examiners Criticize New ‘Humility Pledge’
The Consumer Financial Protection Bureau said it would require a vow to “work collaboratively” with companies before beginning a review.
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As Consumer Bureau’s Cash Dwindles, Trump Administration Declares Its Funding Illegal
The Justice Department embraced a novel conservative legal theory that it said blocked the Federal Reserve from funding the agency.
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Trump Administration Seeks to Return Medical Debt to Credit Reports
A federal rule restricting the debt’s inclusion has been canceled. Now, the consumer bureau is trying to overturn state restrictions.
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The Rules of Investing Are Being Loosened. Could It Lead to the Next 1929?
A group of financiers is trying to convince the public to invest heavily in private equity and crypto — a risky gambit with some real 1920s vibes.
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Trump Questions Discrimination Claims, Even One His First Administration Brought
The case against a Chicago mortgage lender has become a Rorschach test for the Consumer Financial Protection Bureau, epitomizing how the left and the right feel about the agency.
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Judge Scraps Rule Eliminating Medical Debt on Credit Reports
The Trump administration joined with trade groups to ask a court to overturn a Biden-era rule that aimed to limit the impact of unpaid medical bills on consumers’ credit history.
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What ‘Buy Now, Pay Later’ Defaults Say About the Consumer
An increase in deferred pay-later loans has raised alarms, as the Trump administration seeks to gut the agency tasked with policing the sector.
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Capital One to Pay $425 Million to Settle Suit Over Savings Accounts
Depositors said the bank cheated them out of higher interest rates. As part of the settlement, the bank admitted no wrongdoing and agreed to make up for lost interest earnings.
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What the Fed’s Rate Decision Means for Loans, Credit Cards, Mortgages and More
Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.