Tag Archives: CFPB

Thursday, September 11, 2014

Fed, CFPB raise dollar thresholds for exempt transactions under Regulations M, Z

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The Federal Reserve and CFPB announced on Tuesday that they will raise the dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions under the Truth in Lending Act (TILA) and Consumer Leasing Act. The adjustments—based … Read More…

Friday, September 5, 2014

CFPB warns credit card issuers to avoid deceptive promotional APR offers

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The CFPB warned credit card companies on Wednesday to avoid deceptive marketing practices, such as marketing promotional offers of zero or reduced interest rates without disclosing the true costs of the offer. In the new bulletin, the CFPB said luring … Read More…

Tuesday, September 2, 2014

CFPB announces new leaders, advisory board members

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The CFPB announced last week the appointment of new leaders within the agency as well as consumer finance experts to the CFPB’s advisory boards for consumers, community banks and credit unions. New senior leader appointments include Patricia McClung, a former … Read More…

Thursday, August 21, 2014

CFPB seeks approval to collect info for teacher financial literacy training

Financial Education

The CFPB recently requested comment on a proposal to collect information that could help train K-12 teachers to teach and incorporate lessons in financial education as part of an effort to improve the financial capabilities of young people. According to … Read More…

Monday, August 18, 2014

Amerisave, Novo ordered to pay $20 million for alleged lending scheme

Amerisave

Amerisave Mortgage Corp. and affiliate Novo Appraisal Management Company, along with their owner, were recently ordered by the CFPB to pay out more than $20 million in penalties and refunds for allegedly operating a bait-and-switch mortgage-lending scheme. According to the … Read More…

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