A nonprofit student loan consumer group has filed a lawsuit against the Consumer Financial Protection Bureau alleging it has manipulated federal policy and failed in its duty to regulate companies that service student loans. The lawsuit also names the Department of Education.
The data reveals that borrowers of both private and federal student loans reported issues ‘dealing with your lender or servicer’ in more than half of all complaints.
The Consumer Financial Protection Bureau proposed allowing collectors to contact debtors electronically so long as they complied with the provisions of the Fair Debt Collection Practices Act. A recent federal court ruling has called the validity of the CFPB’s new rule into question.
Last week, the Consumer Financial Protection Bureau issued an advanced notice of proposed rulemaking relating to the impending expiration of a mortgage rule that affects two large American guarantors.
Earlier this month, the Consumer Financial Protection Bureau issued an advisory to banks and lending institutions regarding the reporting of financial exploitation of older consumers.
The report summarizes the bureau’s 2018 efforts to ensure “fair, equitable, and nondiscriminatory access to credit for both individuals and communities” as mandated by the Dodd-Frank Act.
The Consumer Financial Protection Bureau recently held the first of a series of planned symposia on various regulatory themes, including a panel on how to practically implement the abusive standard.
The Consumer Financial Protection Bureau this week held the first of a series of planned symposia on various regulatory themes. The first topic addressed was “unfair, deceptive, or abusive acts or practices”.
The Consumer Financial Protection Bureau announced a consent order with Freedom Home Mortgage Corporation. The enforcement action follows an investigation of errors in reporting on mortgage transactions.
CES agreed to pay a fine of $3.9 million for irregularities in its business operations as well as adjust the principal balances of the affected loans and make restitution to borrowers who paid off loans with an incorrect balance.