CFPB Journal staff report – Page 21

CFPB names deputy chief of staff, AD for innovation

The Consumer Financial Protection Bureau has named Jocelyn Sutton as deputy chief of staff and Ann Epstein as assistant director of the office of innovation.

Small business feedback on data collection largely positive

Early feedback indicates small businesses generally support measures to implement Dodd-Frank Act Section 1071, which governs the collection and reporting of small business lending data.

Nationstar settles over servicing practices

The Consumer Financial Protection Bureau filed a complaint and proposed stipulated judgment and order this week against Nationstar Mortgage. The company violated multiple Federal consumer financial laws, causing “substantial harm” to the borrowers whose mortgage loans it serviced, the bureau said.

CFPB sues debt settlement company

The Consumer Financial Protection Bureau filed a lawsuit against DMB Financial over alleged violations of the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010.

CFPB settles with Illinois debt collector

The Consumer Financial Protection Bureau settled with Afni, Inc., last week to address violations in providing information to consumer reporting agencies.

CFPB issues no-action letter to Bank of America

The Consumer Financial Protection Bureau has issued a no-action letter to Bank of America, N.A., for a proposed small-dollar credit product.

CFPB settles with Washington Federal

Seattle-based Washington Federal Bank., N.A., has settled with the Consumer Financial Protection Bureau over allegations it reported inaccurate Home Mortgage Disclosure Act data.

CFPB makes GSE patch extension official

The Consumer Financial Protection Bureau issued a final rule to extend the Government-Sponsored Enterprise patch until the mandatory compliance date of a final rule amending the General Qualified Mortgage loan definition in Regulation Z.

College credit card agreements continue dropping

Institutions of higher learning are offering fewer co-branded cards to students, continuing a trend, according to a report from the Consumer Financial Protection Bureau.

CFPB launches crackdown on phantom and abusive debt collection

The Consumer Financial Protection Bureau announced a nationwide law enforcement and outreach initiative to protect consumers from phantom debt collection and abusive and threatening debt collection practices.