CFPB Enforcement Director Eric Halperin identified areas of evolving risk that can disrupt a "level playing field" in the market for consumer financial products.
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Based on 2022 survey data and credit bureau records, the CFPB reviewed the financial profiles of Buy Now, Pay Later borrowers.
The CFPB highlighted findings from supervisory examinations completed between January 2022 and June 2022.
The CFPB sued an online lender and several subsidiaries for violating the Military Lending Act by, among other counts, imposing fees that exceeded the Act's limit of 36 percent Military Annual Percentage Rate.
The CFPB charged a mortgage lender with using exaggerated and misleading home estimates to encourage customers to take out reverse mortgages.