CFPB

The Consumer Financial Protection Bureau (Bureau or CFPB) has issued Consumer Financial Protection Circular 2023–01, titled ‘‘Unlawful Negative Option Marketing Practices.’’ In this circular, the Bureau responds to the question, ‘‘Can persons that engage in negative option marketing practices violate the prohibition on unfair, deceptive, or abusive acts or practices in the Consumer Financial Protection Act (CFPA)? ’’

The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2023–02, titled, ‘‘Reopening Deposit Accounts That Consumers Previously Closed.’’ In this circular, the CFPB responds to the question, ‘‘After consumers have closed deposit accounts, if a financial institution unilaterally reopens those accounts to process a debit (i.e., withdrawal, ACH transaction, check) or deposit, can it constitute an unfair act or practice under the Consumer Financial Protection Act (CFPA)?’’

The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2023–03, titled, ‘‘Adverse action notification requirements and the proper use of the CFPB’s sample forms provided in Regulation B.’’ In this circular, the CFPB responds to the question, ‘‘When using artificial intelligence or complex credit models, may creditors rely on the checklist of reasons provided in CFPB sample forms for adverse action notices even when those sample reasons do not accurately or specifically identify the reasons for the adverse action?’’

The Consumer Financial Protection Bureau (Bureau or CFPB) has issued Consumer Financial Protection Circular 2024–01, titled, ‘‘Preferencing and steering practices by digital intermediaries for consumer financial products or services.’’ In this circular, the Bureau responds to the question, ‘‘Can operators of digital comparison-shopping tools or lead generators violate the Consumer Financial Protection Act (CFPA) by preferencing products or services based on financial or other benefits to the operator?’’

The Consumer Financial Protection Bureau (Bureau or CFPB) has issued Consumer Financial Protection Circular 2024–02, titled, ‘‘Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer.’’ In this circular, the Bureau responds to the question, ‘‘When do remittance transfer providers violate the prohibition on deceptive acts or practices in the Consumer Financial Protection Act (CFPA) in their marketing about the speed and cost of sending a remittance transfer?’’

The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2024–03, titled, ‘‘Unlawful and Unenforceable Contract Terms and Conditions.’’ In this circular, the CFPB responds to the question, ‘‘Can persons that include unlawful or unenforceable terms and conditions in contracts for consumer financial products and services violate the prohibition on deceptive acts or practices in the Consumer Financial Protection Act (CFPA)?’’

The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2024–04, titled, ‘‘Whistleblower protections under CFPA section 1057.’’ In this circular, the CFPB responds to the question, ‘‘Can requiring employees to sign broad confidentiality agreements violate section 1057 of the Consumer Financial Protection Act (CFPA), the provision protecting the rights of whistleblower employees, and undermine the CFPB’s ability to enforce the law?’’

The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2024–05, titled ‘‘Improper Overdraft Opt-In Practices.’’ In this circular, the CFPB responds to the question, ‘‘Can a financial institution violate the law if there is no proof that it has obtained consumers’ affirmative consent before levying overdraft fees for ATM and onetime debit card transactions?’’

The Consumer Financial Protection Bureau (CFPB) has issued Consumer Financial Protection Circular 2024–06, titled, ‘‘Background Dossiers and Algorithmic Scores for Hiring, Promotion, and Other Employment Decisions.’’ In this circular, the CFPB responds to the question, ‘‘Can an employer make employment decisions utilizing background dossiers, algorithmic scores, and other third-party consumer reports about workers without adhering to the Fair Credit Reporting Act (FCRA)?’’

The Bureau of Consumer Financial Protection (Bureau) is issuing this advisory opinion to clarify that loan products that refinance or consolidate a consumer’s pre-existing Federal, or Federal and private, education loans meet the definition of ‘‘private education loan’’ in the Truth in Lending Act and Regulation Z and are subject to the disclosure and consumer protection requirements in subpart F of Regulation Z. This advisory opinion is an interpretive rule under the Administrative Procedure Act.