CFPB settles with mortgage companies

The Consumer Financial Protection Bureau has settled with a pair of mortgage companies over deceptive advertisements targeted at servicemembers and veterans.

CFPB reaches $122 million settlement with TD Bank

In a settlement with the Consumer Financial Protection Bureau, TD Bank will pay a $25 million fine and $97 million in restitution to roughly 1.42 million customers affected by the bank’s illegal overdraft fees.

CFPB proposes new QM category

The Consumer Financial Protection Bureau wants to create a new category of “seasoned” qualified mortgages in order to “encourage innovation and help ensure access” to the mortgage credit market.

Time-barred debt collection proposal garners criticism

The comment period for the CFPB’s supplemental notice of proposed rule-making regarding the collection of time-barred debt closed on Aug. 4, attracting criticism from banker and consumer groups that it’s not adequately comprehensible.

Mortgage companies settle over ‘deceptive’ ads

The Consumer Financial Protection Bureau issued consent orders against Sovereign Lending Group, Inc., and Prime Choice Funding, Inc., over what the bureau called “deceptive” loan advertisements to servicemembers and veterans.

CFPB files suit against mortgage creditor

The Consumer Financial Protection Bureau filed a lawsuit against Townstone Financial, Inc., a nonbank retail-mortgage creditor based in Chicago, for violations of the Equal Credit Opportunity Act and its Regulation B as well as the Consumer Financial Protection Act.

CFPB sues student debt relief company

The Consumer Financial Protection Bureau has sued members of a student debt relief network, settling with some of them, over violations of the Telemarketing Sales Rule.

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