The CFPB conducted its Credit Union Advisory Council (CUAC) meeting Thursday, the first with the current set of members. The meeting included a discussion of the CFPB’s small business lending data proposal, age-friendly banking, and youth financial literacy.
The CFPB missed many opportunities in its first decade of existence to leverage the credit union mission for consumers, CUNA wrote prior to CFPB Director Rohit Chopra's testimony before the House Financial Services Committee, adding that new CFPB leadership can recalibrate this approach.
The CFPB Thursday issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the U.S., including Amazon, Apple, Facebook, Google, PayPal, and Square.
CUNA wrote to new Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra Tuesday highlighting several key principles that should guide future CFPB actions. Chopra was confirmed in September by the Senate to lead the CFPB.
The CFPB issued new technical specifications for the credit card agreement submission process. Issuers making credit card agreement submissions to the Bureau on a quarterly basis must complete a registration form and submit it by Nov. 1.
The Senate Thursday confirmed Rohit Chopra to be the next director of the CFPB. Chopra comes to the CFPB from the Federal Trade Commission where he was a commissioner. He previously served as assistant director and student loan ombudsman at the CFPB
The Consumer Financial Protection Bureau announced the appointment of new advisory committee members Wednesday, including for the Credit Union Advisory Council. The CUAC advises and consults with the CFPB on consumer financial issues related to credit unions.
The Consumer Financial Protection Bureau Wednesday issued a proposal that would require lenders to disclose information about their lending to small businesses. CUNA is currently analyzing the 918-page proposal.
The Consumer Financial Protection Bureau Wednesday withdrew its April proposal to delay the effective dates of its debt collection rules by 60 days. The rules will become effective Nov. 30, the delay would have pushed it to January 2022.