CFPB Journal staff report – Page 22

CFPB settles with auto lender

The Consumer Financial Protection Bureau settled with Lobel Financial Corporation over allegations of unfair practices in violation of the Consumer Financial Protection Act.

Proposed small business data collection rules would exclude smaller lenders

Under a new set of proposals from the Consumer Financial Protection Bureau, smaller lenders would be excluded from small business data collection requirements. The proposals are part of the implementation of section 1071 of the Dodd-Frank Act, which requires that data be collected and reported for small-business lending as well as lending to women- and minority-owned businesses.

CFPB sues California debt collectors, buyers

The Consumer Financial Protection Bureau has sued a group of San Diego-based debt collection companies over violations of several consumer financial protection laws.

CFPB settles with mortgage companies

The Consumer Financial Protection Bureau has settled with a pair of mortgage companies over deceptive advertisements targeted at servicemembers and veterans.

CFPB proposes new QM category

The Consumer Financial Protection Bureau wants to create a new category of “seasoned” qualified mortgages in order to “encourage innovation and help ensure access” to the mortgage credit market.

Consumer complaints skyrocket during pandemic

The number of consumer complaints filed in the database of the Consumer Financial Protection Bureau has skyrocketed since the beginning of the pandemic.

Mortgage companies settle over ‘deceptive’ ads

The Consumer Financial Protection Bureau issued consent orders against Sovereign Lending Group, Inc., and Prime Choice Funding, Inc., over what the bureau called “deceptive” loan advertisements to servicemembers and veterans.

CFPB files suit against mortgage creditor

The Consumer Financial Protection Bureau filed a lawsuit against Townstone Financial, Inc., a nonbank retail-mortgage creditor based in Chicago, for violations of the Equal Credit Opportunity Act and its Regulation B as well as the Consumer Financial Protection Act.

CFPB sues student debt relief company

The Consumer Financial Protection Bureau has sued members of a student debt relief network, settling with some of them, over violations of the Telemarketing Sales Rule.

CFPB removes underwriting requirements from payday lending rule

The Consumer Financial Protection Bureau has removed mandatory underwriting requirements from the final version of its 2017 small dollar lending rule.