August 2015 Articles – CFPB Journal

CFPB sues two pension loan companies

The Consumer Financial Protection Bureau filed a lawsuit in federal court this week against two companies that offered consumers pension loans.

Citizens Bank of Pennsylvania is a warning to the banking industry

Regulators’ action against Citizens Bank of Pennsylvania has huge ramifications for the banking industry. Three regulators − the CFPB, FDIC and the Office of the Comptroller of the Currency – have ordered Citizens to pay $14 million in refunds to consumers and another $20.5 million penalty.

Citizens Bank fined by CFPB

This week the Consumer Financial Protection Bureau levied a significant fine on Citizens Bank for mishandling discrepancies in customer deposits.

Electronic mortgage closings may help consumers, CFPB says

The use of eClosing platforms may help customer comprehension and efficiency during mortgage closings, according to a report from the Consumer Financial Protection Bureau.