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The bureau asked for the payment as part of a final judgment against Orion Processing LLC, a bankrupt company embroiled in an alleged debt-relief scheme that cost consumers millions in what the bureau called “exorbitant, illegal upfront fees.”
Richard Cordray, director of the Consumer Financial Protection Bureau, allegedly used private communication equipment to hide his contact with high-level operatives in the Democratic party during the election season.
The Consumer Financial Protection Bureau fined Prospect Mortgage $3.5 million for improper mortgage referrals, in what the regulator calls a “kickback” scheme.
The Consumer Financial Protection Bureau targeted MasterCard and UniRush, a prepaid card issuer, over a technical glitch with a platform migration that left some consumers unable to access funds in a timely manner.
The Consumer Financial Protection Bureau moved this week to fine CitiBank affiliate CitiMortgage $28.8 million for violating multiple mortgage servicing rules.
A defendant named in a 2015 CFPB enforcement action has filed a motion seeking sanctions against the bureau for frivolously naming them in the original suit.
TransUnion and Equifax, Inc. have been ordered to pay a total of more than $17.6 million in restitution to consumers, along with fines totaling $5.5 million to the CFPB.
The bureau will focus on redlining, loan servicing and small business lending in 2017, according to a recent blog post.
The nomination of South Carolina Republican Congressman Mick Mulvaney as director of the Office of Management and Budget signals that federal regulations are likely to face tough scrutiny in the Trump administration.
The request, filed by the Cause of Action Institute, sought access to CFPB files pertaining to its proposed arbitration rule.