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The Consumer Financial Protection Bureau taskforce on federal consumer financial law released a report last week with recommendations on how to improve consumer protection in the financial marketplace.
The Consumer Financial Protection Bureau issued a consent order against Omni Financial of Nevada, Inc., last week requiring the company to pay a $2.175 million civil money penalty.
The Consumer Financial Protection Bureau has named Jocelyn Sutton as deputy chief of staff and Ann Epstein as assistant director of the office of innovation.
Early feedback indicates small businesses generally support measures to implement Dodd-Frank Act Section 1071, which governs the collection and reporting of small business lending data.
The Consumer Financial Protection Bureau filed a complaint and proposed stipulated judgment and order this week against Nationstar Mortgage. The company violated multiple Federal consumer financial laws, causing “substantial harm” to the borrowers whose mortgage loans it serviced, the bureau said.
The Consumer Financial Protection Bureau filed a lawsuit against DMB Financial over alleged violations of the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010.
The Consumer Financial Protection Bureau settled with Afni, Inc., last week to address violations in providing information to consumer reporting agencies.
The Consumer Financial Protection Bureau has issued a no-action letter to Bank of America, N.A., for a proposed small-dollar credit product.
The Consumer Financial Protection Bureau finalized changes to its regulations regarding the disclosure of records and information. It also published a portion of its long-awaited Fair Debt Collection Practices Act rulemaking to modernize and clarify rules around third-party debt collection.
Seattle-based Washington Federal Bank., N.A., has settled with the Consumer Financial Protection Bureau over allegations it reported inaccurate Home Mortgage Disclosure Act data.