The credit score you purchase from a credit reporting agency may be very different from the score your lender sees.
The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corporation announced Monday a joint public enforcement action requiring Discover Bank to refund $200 million to some 3.5 million customers.
The state attorneys general for Michigan, Oklahoma and South Carolina have joined a suit by a Texas bank and two nonprofits that have challenged the constitutionality of the Consumer Financial Protection Bureau and Richard Cordray’s appointment as director of the Bureau
Legal liability caused by a dilemma between the Consumer Financial Protection Bureau’s proposed ability-to-repay rule and U.S. Department of Housing and Urban Development fair lending statutes, could force community banks to leave mortgage lending.
Actions speak louder than words. Previously, the Consumer Financial Protection Bureau touted its proposed remittance rule as an example of its efforts to reduce regulatory burden on community banks.