John Niemann – Page 7

Small firm prevails over CFPB in court

A small, family run real estate law firm in Kentucky last week prevailed in a lawsuit filed by the Consumer Financial Protection Bureau.

CFPB proposes a public arbitration database

Last week, the Consumer Financial Protection Bureau issued the final version of its administrative rule concerning arbitration clauses in consumer contracts.

Treasury department recommends CFPB changes

The report comes as another voice in the debate currently roiling Washington over the bureau, with some calling for substantial reform or even abolition of the agency, and some championing it as essential.

CFPB releases state-level monthly complaint report

Complaints increased 7 percent between 2015 and 2016, totaling 291,400 last year; however, companies provided consumers with a timely response to their complaints 97 percent of the time.

CFPB critical of student loan servicers working with public servants

The Consumer Financial Protection Bureau last week released a report critical of student loan servicers who deal with borrowers who have pursued public service careers.

Federal court refuses to enforce CFPB CID

A federal court denied a petition to enforce a Civil Investigative Demand filed by the Consumer Financial Protection Bureau against a company that purchases structured settlements and annuities.

CFPB fines another mortgage lender for UDAAP violations

The Consumer Financial Protection Bureau took action against Fay Servicing, a mortgage servicer, for violations of the Dodd-Frank Act’s prohibition on unfair, deceptive and abusive acts or practices.

CFPB moves to regulate small business loans

This marks the bureau’s first foray into regulating small business loans, and the announcement raises many questions for lenders that deal with small business.

CFPB criticized by Fed for poor data security

A report issued by the Federal Reserve System Office of the Inspector General asserts that the Consumer Financial Protection Bureau failed to properly secure sensitive data it gathered for regulation and in investigations.

CFPB imposes fine for violating consent order

The bureau has entered into a consent order with auto lender Security National Automotive Company for insufficient progress in complying with an earlier consent order over its treatment of servicemembers who fell behind on loan payments.