The New York Fed reported minor debt shifts overall, though serious mortgage delinquencies ticked up, and a significant wave of severe student loan defaults was moved to federal collections. U.S. household debt levels remained practically unchanged during the opening months ...

Jason Brown and David Silberman In 2010, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress created the Consumer Financial Protection Bureau (CFPB). Drawing upon a proposal that then-Professor Elizabeth Warren had put forward several years ...

SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) announced today that San Francisco-based Yotta Technologies (Yotta) must pay a $1 million penalty for engaging in deceptive acts or practices. An investigation determined that Yotta misled consumers by marketing its services as safe while falsely claiming ...

Here's a full breakdown of where this story stands: Background: The 2023 Consent Order The original order, issued in November 2023, found that Citi engaged in a pattern of discrimination against Armenian American credit card applicants from 2015 through 2021 ...

BNPL volume hitting about 70 billion dollars refers to the yearly flow of “pay‑in‑4” style loans, not a stock of outstanding debt, but it still signals that BNPL has become a meaningful parallel credit system with growing consumer‑protection and regulatory ...

President challenges foreclosure amendment citing risks to financial stability — borrowers association rejects claims of unconstitutionality Serious constitutional and institutional concerns have been raised over a new foreclosure law, following a referral by president Nikos Christodoulides to the Supreme Court, ...

A coalition of 24 states and Washington, D.C., filed a lawsuit challenging a Department of Education rule that excludes several health care graduate programs from higher federal borrowing limits. A coalition of Democratic state attorneys general filed a federal lawsuit ...

Texas NTS launches today as the first multi-agent system to read every Texas county clerk site continuously, delivering Notices of Trustee's Sale within 24 hours of filing with a full audit trail to the source document. Lubbock, TEXAS, May 18, ...

Ex-CFPB Director Rohit Chopra to Lead New California Consumer Agency Former Consumer Financial Protection Bureau Director Rohit Chopra is returning to the frontlines of consumer protection — this time at the state level. California Governor Gavin Newsom announced on May ...