Tag Archives: CFPA

Two New Bills in Congress Seek to Restrict Arbitration Agreements

Photo of Kyle T. CuttsBy Kyle T. Cutts on Posted in Consumer Financial Protection Bureau
Two bills making their way through Congress are taking aim at the practice of including binding arbitration agreements in consumer-facing contracts, particularly those in financial industry contracts. In March, Sen. Sherrod Brown, D-Ohio, introduced the Arbitration Fairness for Consumers Act (S. 630) in the Senate Committee on Banking, Housing, and Urban Affairs. Sen. Brown’s bill … Continue Reading

CFPB Fines TMX Finance LLC $9 Million for Unfair and Abusive Practices

By Melonia A. Bennett on Posted in Consumer Financial Protection Bureau
On September 26, 2016, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with one of the country’s largest auto title lenders, TMX Finance LLC, the parent company of TitleMax. The CFPB took action against TMX Finance for engaging in unfair, deceptive, and abusive lending acts and practices, and for engaging in unfair … Continue Reading
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