On May 6, the Consumer Financial Protection Bureau announced it will no longer prioritize enforcement actions taken on buy ...

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The Consumer Financial Protection Bureau, the U.S ...

Maxine Waters, D-Calif.,said it was “ridiculous” to be cutting the CFPB’s budget to find savings. “From cracking down on illegal junk fees, tackling discrimination in housing, and ...

The CFPB Tuesday afternoon said it would not prioritize enforcement actions stemming from a 2024 interpretive rule that classified Pay in 4 loans as credit cards, which put them under the purview of ...

The rule could radically reshape consumer finance and allow fintechs to better compete with banks. After issuing the final rule in October, the CFPB was sued by the Bank Policy Institute, a Kentucky ...

The Consumer Financial Protection Bureau (CFPB) has ceased enforcement of a rule that classifies buy now, pay later (BNPL) firms as credit card issuers. In May 2024, the agency, under the Biden ...

The Government Accountability Office, which is the investigative arm of Congress, and the CFPB's Office of Inspector General, have agreed to review aspects of DOGE's activities at the CFPB ...

“The Bureau will instead keep its enforcement and supervision resources focused on pressing threats to consumers, particularly servicemen and veterans,” the CFPB stated. “The Bureau is ...

The CFPB said in a notice on Tuesday that it will not prioritize enforcement of a rule, established during Joe Biden's presidency, that classified BNPL providers as credit card issuers subject to ...

Announced Tuesday, the change reverses a CFPB position from a year ago that maintains buy now, pay later users have the same protections as credit card users under the Truth in Lending Act. And, the ...