October 2017 Articles – CFPB Journal

Mortgage delinquency rates hit pre-recession low

Information from a newly launched assessment tool shows that mortgage delinquency rates have dropped to levels not seen since before the recession, the Consumer Financial Protection Bureau said.

CFPB sues companies posing as government agencies

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.

CFPB outlines customer data sharing principles

The Consumer Financial Protection Bureau has issued principles for protecting consumers when they authorize third party companies to access their financial data to provide certain financial products and services.

Student loan complaints lead to $750 million in relief

The Consumer Financial Protection Bureau has handled more than 20,000 complaints over the last year from consumers about student loans.

Finance industry files suit against arbitration rule

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.

CFPB finalizes payday lending rule

The rule requires payday lenders to determine upfront whether or not the consumer is capable of repaying the loan, among other restrictions.

CFPB fines title company for RESPA violations

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.

OCC fact-checks CFPB arbitration claims

The Office of the Comptroller of the Currency has released a report challenging the Consumer Financial Protection Bureau’s interpretation of an arbitration study.