Consumer Financial Protection Bureau

Consumer Financial Protection Bureau

U.S. regulators warn they already have the power to go after A.I. bias — and they’re ready to use it

Four federal U.S. agencies issued a warning on Tuesday that they already have the authority to tackle harms caused by artificial intelligence bias and they plan to use it. The warning comes as Congress is grappling with how it should take action to protect ...Read More

Supreme Court will hear case challenging Consumer Financial Protection Bureau funding

The Supreme Court on Monday agreed to hear arguments in a case challenging the constitutionality of funding for the Consumer Financial Protection Bureau. The order taking the case came four months after a federal appeals court panel unanimously ruled that the CFPB’s funding mechanism was unconstitutional. That ruling, which tossed out a CFPB regulation targeting payday ...Read More

CFPB Plans to Increase Regulation over “Buy Now, Pay Later” Lenders

The Consumer Financial Protect Bureau (CFPB) issued a release on September 15, 2022, announcing its intent to issue additional interpretive guidance or rules to ensure “Buy Now, Pay Later” (BNPL) lenders comply with the same or similar regulations already established for credit cards following a study ...Read More