The financial report provides readers with the summary results of the CFPB’s operational activity, and it is the principal statement of our accountability to the American people, the United States Congress, and the President of the United States. Our commitment to transparency and accountability is evident in the Bureau earning its thirteenth consecutive unmodified (clean) audit opinion on our comparative financial statements for fiscal years 2023 and 2022.
The Federal Trade Commission has obtained orders with the four remaining individual defendants and their affiliated companies in a mobile cramming scheme that the agency says bilked consumers out of more than $100 million through bogus charges added to their mobile phone bills.
The Federal Trade Commission has opened comments for its proposed rule on “unfair or deceptive fees,” including questions on hidden or misleading fees and industry-specific practices.
On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule amending their regulations implementing the Community Reinvestment Act (“CRA”) (the “Final Rule”).
The state’s financial regulator released a second draft of licensing requirements for debt collectors, creditors and attorneys.
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