States play an important role in the regulation of consumer reporting. State laws that are not ‘‘inconsistent’’ with the Fair Credit Reporting Act (FCRA) are generally not preempted by that statute. The FCRA also expressly preempts certain categories of State laws. This interpretive rule clarifies that FCRA’s express preemption provisions have a narrow and targeted scope. States therefore retain substantial flexibility to pass laws involving consumer reporting to reflect emerging problems affecting their local economies and citizens.
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Section 1002 of the Consumer Financial Protection Act of 2010 (CFPA) defines the term ‘‘service provider’’ and sets forth two exceptions to that definition. Under one of those exceptions, a person is not a service provider solely by virtue of such person offering or providing to a covered person time or space for an advertisement for a consumer financial product or service through print, newspaper, or electronic media.
The Consumer Financial Protection Bureau (CFPB) is issuing this interpretive rule to address the applicability of subpart B of Regulation Z to lenders that issue digital user accounts used to access credit, including to those lenders that market loans as ‘‘Buy Now, Pay Later’’ (BNPL). This interpretive rule describes how these lenders meet the criteria for being ‘‘card issuers’’ for purposes of Regulation Z. Such lenders that extend credit are also ‘‘creditors’’ subject to subpart B of Regulation Z, including those provisions governing periodic statements and billing disputes.
The Bureau of Consumer Financial Protection (the ‘‘Bureau’’) is issuing a final policy statement (the ‘‘Policy Statement’’) to provide guidance on how the Bureau plans to exercise its discretion to publicly disclose certain credit card complaint data that do not include personally identifiable information. The Bureau receives credit card complaints from consumers under the terms of Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ‘‘Dodd-Frank Act’’).
The Bureau of Consumer Financial Protection (Bureau) is issuing a final policy statement (Policy Statement) to provide guidance on how the Bureau plans to exercise its discretion to publicly disclose certain consumer complaint data that do not include personally identifiable information. The Bureau receives complaints from consumers under the terms of Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
The Bureau of Consumer Financial Protection (the ‘‘Bureau’’) is issuing a final policy statement (‘‘Final Policy Statement’’) to provide guidance on how the Bureau plans to exercise its discretion to disclose publicly unstructured consumer complaint narrative data (‘‘narratives’’ or ‘‘consumer narratives’’) via its web-based, public facing database (the ‘‘Consumer Complaint Database’’ or ‘‘Database’’). Only those narratives for which opt-in consumer consent is obtained and a robust personal information scrubbing standard and methodology applied will be eligible for disclosure.
The Bureau of Consumer Financial Protection (Bureau) recognizes the serious impact that the COVID-19 pandemic is having on consumers and the operations of many entities. The Bureau further recognizes that, for insured institutions providing remittance transfers for their customers, the expiration of the statutory temporary exception to the Remittance Rule’s requirement to disclose the exact costs of remittance transfers will deepen the potential impact on those customers.
The Consumer Financial Protection Act of 2010 (CFPA) prohibits any ‘‘covered person’’ or ‘‘service provider’’ from ‘‘engag[ing] in any unfair, deceptive, or abusive act or practice’’ and defines abusive conduct.
The Consumer Financial Protection Bureau (CFPB) is issuing this policy statement on Compliance Assistance Sandbox (Policy), which is intended to further objectives under Section 1021 of the Consumer Financial Protection Act.
The Consumer Financial Protection Bureau (CFPB) is issuing this policy statement on No-Action Letters (Policy), which is intended to further objectives under section 1021 of the Consumer Financial Protection Act.