Last month, the CFPB delivered preliminary results of a study into the use of arbitration clauses in consumer products.
On December 16th, the Office of Inspector General issued a report critical of the CFPB’s policy of regularly sending enforcement attorneys to participate in meetings with the entities under their oversight.
Last November, the Consumer Financial Protection Bureau issued a long-anticipated new rule standardizing two mortgage forms.
The Consumer Financial Protection Bureau last month announced a $2.1 billion settlement agreement with Ocwen Financial Corporation, the fourth-largest U.S. mortgage servicer and the largest that is not a bank.
The Consumer Financial Protection Bureau, in conjunction with the Department of Justice, recently issued an order to Ally Financial, Inc., and Ally Bank to pay $80 million in damages to auto loan consumers who were harmed by discriminatory policies on auto loan applications.
The Bipartisan Policy Center released a comprehensive study of the Consumer Financial Protection Bureau. While praising some aspects of the CFPB’s first two years, the report expressed concerns about transparency at the federal agency.