On November 13, Representative Gary J. Palmer (R-AL) introduced House Joint Resolution 220, which seeks congressional disapproval of an advisory opinion published by the Consumer Financial Protection Bureau (CFPB or Bureau) relating to medical debt collection practices.
Sen. Elizabeth Warren, D-Mass., an advocate of a strict financial regulatory regime, will become the top Democrat on the Senate Banking, Housing and Urban Affairs Committee in the next Congress.
The Federal Trade Commission today issued its Fiscal Year 2024 Agency Financial Report which highlights the FTC’s accomplishments in protecting consumers and promoting competition and reaffirms the agency’s commitment to responsible stewardship of resources and sound financial operations.
The Consumer Financial Protection Bureau (CFPB) today released the annual report of the CFPB Student Loan Ombudsman, highlighting the severe difficulties reported by student borrowers due to persistent loan servicing failures and program disruptions. The report details how millions of student borrowers have received relief through new income-driven repayment plans, cancellation programs, and various adjustments and program automation processes.
On November 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a pilot study titled “Matched-Pair Testing in Small Business Lending Markets” highlighting what the CFPB believes were two statistically significant disparities in the treatment of Black and white small business owners seeking loans. First, the secret shopping study indicated that Black entrepreneurs were less encouraged by small business lenders to apply for loans. Specifically, such lenders expressed interest in obtaining loan applications from 40% of white participants, but only 23% of Black participants.
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