CFPB: Rule Proposed to Establish Public Registry of Terms & Conditions in Form Contracts That Claim to Waive or Limit Consumer Rights & Protections

Companies can use terms and conditions in non-negotiable form contracts to try to hide consumer harm, to stifle criticism about products and services, and to undermine consumer financial protection law Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to establish a public registry of supervised nonbanks’ terms and […]

CFPB: Research Finds Members of Reserves and National Guard Paying Millions of Dollars in Extra Interest Each Year

Companies can take steps to better respect military borrower rights and ease financial burdens, particularly in higher interest rate environment Today, the Consumer Financial Protection Bureau (CFPB) released research revealing that Reserve and National Guard members called to active duty are paying an extra $9 million in interest every year […]

OCC: Agency Joins Military Spouse Partnership

The Office of the Comptroller of the Currency (OCC) affirmed its commitment to military families by joining the Military Spouse Employment Partnership (MSEP) at a ceremony today in Arlington, Va. MSEP is a Department of Defense program that connects military spouses with partner employers who have committed to recruit, hire, […]

ABA: Seven Banks Win ABA Foundation’s 2022 Community Commitment Awards

The American Bankers Association Foundation named seven banks as 2022 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion. The winners will be recognized at ABA’s Annual Convention in Austin, Texas on Oct. 4. The selection […]

CFPB: Justice Department and CFPB Caution Auto Finance Companies about Servicemember Protections

Joint Letter Reminds Auto Finance Companies of Key Federal Protections The Department of Justice and the Consumer Financial Protection Bureau (CFPB) issued a joint letter today reminding auto finance companies of their responsibilities to recognize important legal protections for military families under the Servicemembers Civil Relief Act (SCRA). While servicemembers […]

SBA: Funding Opportunity to Provide Entrepreneurship Training to Service-Disabled Veterans Announced

Today, the U.S. Small Business Administration announced a new funding opportunity for eligible non-profit organizations, state and local government agencies, private sector firms, and institutions of higher learning to provide entrepreneurship training to service-disabled veterans. The awarded organization(s) can use the funding to market, deliver, and scale existing service-disabled veteran entrepreneurs’ training […]

CFPB: New Report Highlights Experience of Military Families with Medical Billing, Credit Reporting, and Debt Collection

Servicemembers and veterans report problems with coercive credit reporting and false medical bill collections Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing servicemembers, veterans, and military families, based on the complaints they submitted to the CFPB. Servicemembers told the CFPB about […]

ABA: Foundation Encourages Banks to Submit Nominations for 10th Annual Community Commitment Awards

The ABA Foundation is seeking submissions for its 10th annual Community Commitment Awards. The awards, one of the industry’s highest honors for extraordinary community engagement, recognizes innovative, high-impact bank programs that improve the quality of life for customers banks serve. The entry period for submitting nominations ends July 1. “Over the […]

CFPB: DOJ and CFPB Put Landlords and Mortgage Servicies on Notice about Servicmembers’ and Veterans’ Rights

Joint letters remind landlords and mortgage servicers to adhere to the CARES Act and additional legal requirements under the Servicemembers Civil Relief Act The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) issued two joint letters today regarding important legal housing protections for military families. One letter […]

CFPB: Interpretive Rule Issued on Authority to Resume CFPB Examinations Regarding the Military Lending Act

The Consumer Financial Protection Bureau (CFPB) issued aninterpretive rule  today that explains the basis for its authority to examine supervised financial institutions for risks to active duty servicemembers and their dependents (i.e. military borrowers) from conduct that violates the Military Lending Act (MLA). “The Military Lending Act is an essential law […]