CFPB shifts focus away from nonbanks, fair lending cases

CFPB to ‘deprioritize’ payments oversight

An agency memo directs the agency’s staff to bring redress directly to affected consumers, “rather than imposing penalties on companies.”

CFPB shifts focus away from nonbanks, fair lending cases

An 11-point memo directs the agency’s staff to bring redress directly to affected consumers, “rather than imposing penalties on companies in order to simply fill the Bureau’s penalty fund,” the CFPB’s legal chief wrote.

CFPB begins firings and ends oversight of nonbanks, big tech, and critical consumer protection areas

A memo sent to Consumer Financial Protection Bureau (CFPB) staff on Wednesday calls for a seismic shift away from supervising non-banks and Big Tech financial companies, including payday lenders, student loan servicers,…

NJ Attorney General Initiates Fair Lending Action for Race, National Origin & Nationality Discrimination - Weiner Brodsky Kider PC

The New Jersey Attorney General and the State’s Division of Civil Rights announced the filing of a Finding of Probable Cause against a lender and cash advance provider for alleged discrimination based on race, national origin, and nationality. The State alleges that the company had a discriminatory policy not to lend to certain types of borrowers on a prohibited basis.  Among other things, the company’s owner sent employees an audio recording wh…