The CFPB analyzed complaints relating to crypto assets between October 2018 and September 2022 and found that the complaint rate increased year to year. The CFPB questioned whether crypto asset platforms are effectively monitoring for misconduct.
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The CFPB filed a Complaint against a payday lender, alleging that the company (i) concealed the option of a free repayment plan to consumers struggling to repay their short-term, high-cost loans and (ii) "made electronic withdrawals of consumers’ money without their authorization."
The CFPB advisory opinion on unfair debt collection practices became effective July 5, 2022.
The CFPB issued guidance on navigating "pay-to-pay" debt collector fees, often described as "convenience fees."
The CFPB updated its supervisory operations and examinations manual to better pursue "discrimination in all consumer finance markets, including credit, servicing, collections, consumer reporting, payments, remittances, and deposits."