The CFPB reviewed federal student loan servicing practices since required repayments have resumed.
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CFPB Enforcement Director Eric Halperin identified areas of evolving risk that can disrupt a "level playing field" in the market for consumer financial products.
In a Consent Order, the CFPB ordered a personal loan installment lender to pay $20 million in penalties for deceptive and abusive sales practices in connection with loan originations, renewals and product add-ons.
The CFPB highlighted findings from supervisory examinations completed between January 2022 and June 2022.
In a new report, the CFPB identified "Buy Now, Pay Later" credit program and product risks; CFPB Director Rohit Chopra directed staff to take additional action.