Earlier this month, the Consumer Financial Protection Bureau reached a settlement with Vantage Capital Group that handed VCG administration rights to more than 800,000 private student loans that had been mismanaged by a trust called National Collegiate Student Loan Trusts.
The Consumer Financial Protection Bureau filed suit in federal court against two service providers for deceptively suggesting that they were affiliated with the federal government as well as falsely promising to eliminate consumers’ debts and improve their credit scores.
A group of more than twenty finance industry organizations filed suit against the Consumer Financial Protection Bureau, seeking to halt implementation of the bureau’s new arbitration rule.
The Consumer Financial Protection Bureau fined real estate settlement services provider Meridian Title Corporation $1.25 million for illegal kickbacks relating to consumers referred to an affiliated title-insurance business.
The Consumer Financial Protection Bureau filed an enforcement action this week against Top Notch Funding, a New Jersey-based loan broker that targeted its offers at consumers who were awaiting payment from settlements in legal cases or from victim-compensation funds.
Last week, the Consumer Financial Protection Bureau entered into a consent order with a lead aggregation company, Zero Parallel, and its CEO.
The Department of Education recently delivered a letter to the Consumer Financial Protection Bureau providing notice of its intent to terminate two Obama-era Memoranda of Understanding between the agencies.
The court formally sanctioned the bureau for its conduct during the discovery process of a lawsuit, striking four counts from the CFPB's initial suit.
The Department of Justice announced last week it was formally closing Operation Choke Point, a controversial regulatory program quietly undertaken in 2011.
A national legal expert last week raised questions about the political future of Richard Cordray, director of the Consumer Financial Protection Bureau.