Government News

On July 17, 2023, US Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and Commissioner for Justice and Consumer Protection of the European Commission (EC) Didier Reynders published a joint statement announcing the beginning of an informal dialogue to take place at…

The Washington, D.C., City Council has approved a law to address gaps in the district’s debt collection regulations. The council unanimously approved the “Protecting Consumers from Unjust Debt Collection Practices Amendment Act of 2022,” sponsored by City Council Chairman Phil…

Today, the CFPB released its Fair Lending Annual Report to Congress , describing our fair lending activities in enforcement and supervision; guidance and rulemaking; interagency coordination; and outreach and education for calendar year 2022. In 2022, the CFPB’s fair lending work centered…

The House passed a bill to suspend the debt ceiling on Wednesday, clearing a major legislative hurdle with just days left before the US is expected to default. The final House vote was 314 to 117, with 149 Republicans and 165 Democrats…

Americans’ debt levels continue to climb to new heights at a time when economic conditions are becoming increasingly less stable. Household debt balances set a fresh record high of $17.05 trillion during the first quarter, growing $148 billion or 0.9% from…

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. The advisory opinion clarifies that a…

U.S. House Republicans on Wednesday struggled but whipped just enough votes to pass their plan to temporarily raise the nation’s borrowing limit and also cut spending by slashing key parts of President Joe Biden’s climate and tax law, potentially risking…

Mortgage rates continued to decline for the fourth consecutive week, with the average 30-year fixed rate falling to 6.83%. Rates on long-term fixed-rate mortgages, including FHA loans, VA loans and jumbo loans, all dropped during the past week. Meanwhile, short-term mortgage…

On March 3, the CFPB received a rulemaking petition from the National Consumer Law Center (NCLC) in response to forthcoming FCRA rulemaking announced in the Bureau’s Fall 2022 regulatory agenda. As previously covered by InfoBytes, the Bureau announced it is considering pre-rulemaking activity…

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) took action today against Portfolio Recovery Associates, one of the largest debt collectors in the nation, for violating a 2015 CFPB order and engaging in other violations of law. The CFPB filed…