By Kalin Bornemann on Posted in CFPB,Credit CardsLast month, the CFPB issued a Request for Information (“Request”) to identify potential ways to increase credit access for underserved segments of the population. In particular, the CFPB noted that certain groups of individuals lack enough credit history to obtain a reliable credit score. While the CFPB’s Request was primarily directed at the financial services industry,… Continue Reading
By Faye Ricci on Posted in Auto Finance,CFPB,Credit Cards,Debt Collection,Mortgage ServicingThe CFPB has exclusive supervisory authority over depository institutions that have assets totaling more than $10 billion dollars. For these depository institutions, the CFPB is the primary rule maker and enforcer of consumer protection laws applicable to these institutions. For depository institutions that have $10 billion or less in total assets, the Federal Reserve Board… Continue Reading
