CFPB Journal staff report – Page 4

Wisconsin mortgage company fined for redlining

The Consumer Financial Protection Bureau and Justice Department fined Madison, Wis.-based mortgage firm Fairway Independent Mortgage $1.9 million for redlining black neighborhoods in Birmingham, Ala.

CFPB outlines auto lending violations

Consumers sometimes face inaccurate loan disclosures and are being charged for additional products without their consent, according to an Oct. 7 supervisory highlights report from the Consumer Financial Protection Bureau.

CFPB: Collecting invalid medical debt violates federal law

Debt collectors violate federal law by collecting legally invalid or inaccurate medical debt, according to Oct. 1 guidance from the Consumer Financial Protection Bureau.

CFPB: Military veterans face student loan hurdles

Active duty and veteran college students face challenges in receiving assistance from student loan servicers, according to a Consumer Financial Protection Bureau report.

CFPB: Banks charging overdraft fees without consumer opt-in

Banks must prove they have secured consumer buy-in before charging overdraft fees, according to recently published guidance from the Consumer Financial Protection Bureau.

CFPB fines TD Bank $27 million for consumer reporting errors

The Consumer Financial Protection Bureau fined TD Bank $27.7 million for sharing inaccurate customer information with consumer reporting companies.

Report: Rental, medical debt collectors illegally collecting debt

Rental and medical debt collectors are using illegal tactics to collect consumer debt they are not owed, according to a recent Consumer Financial Protection Bureau annual report on debt collection.

CFPB: Consumers paying tens of millions of dollars in cash back fees

Kroger, Dollar Tree/Family Dollar and Dollar General collected $90 million in fees from customers requesting cash back while using a debit or credit card, according to a report from the Consumer Financial Protection Bureau.

Fay Servicing fined $5 million for mortgage violations

The Consumer Financial Protection Bureau fined nonbank mortgage servicer Fay Servicing $5 million for foreclosing on homeowners who are protected by housing protection laws.

CFPB: Contract for deed deals covered under Truth in Lending Act

Contract for deed home purchase deals are covered under the Truth in Lending Act, according to a Consumer Financial Protection Bureau advisory opinion and research report.