The CFPB ordered five companies to provide information regarding their "buy now, pay later" credit programs. The CFPB expects to publish findings on the risks of these programs concerning accumulation of debt, regulatory arbitrage and data harvesting.
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The CFPB charged a credit-repair software and solutions company and its CEO with assisting credit-repair businesses in their collection of advance fees from consumers, in violation of the Telemarketing Sales Rule.
The largest publicly traded debt buyer in the U.S. settled CFPB charges for improper debt-collection acts and practices.
A travel assistance services company settled its potential civil liability with OFAC for apparent violations of the Cuban Assets Control Regulations.
In comments supporting a CFPB proposal to amend the Fair Debt Collection Practice Act, the FTC recommended that the CFPB require collectors to adopt procedures to ensure consumers receive notices.