America’s Credit Unions joined with several organizations to urge the CFPB to abandon its request for comment under the Paperwork Reduction Act (PRA) regarding a proposed new information collection on auto lending, noting the bureau lacks legal authority to collect the information outlined in the proposal and “grossly underestimates the burden of the information collection.”
New York CNN — Two of the world’s largest credit card networks, Visa and Mastercard, as well as the banks that issue cards with them, have agreed to settle a decades long antitrust case brought upon by merchants.
The Consumer Financial Protection Bureau (CFPB) will reportedly take a closer look at credit card reward programs. This move follows an increase in the number of complaints the agency has received from consumers, CFPB Director Rohit Chopra said Tuesday (March 26), Reuters reported.
In a significant ruling on March 19, the Third Circuit Court of Appeals held that the CFPB can proceed with its lawsuit against a group of Delaware student loan trusts rejecting their claims that they are just passive financing entities outside the reach of the Bureau’s authority.
Your credit union is not just a financial institution. It is a community partner dedicated to empowering individuals, fostering financial well-being, and leaving a lasting impact on the lives of its members.
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