The Consumer Financial Protection Bureau filed a lawsuit in federal court this week against two companies that offered consumers pension loans.
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.
This week the Consumer Financial Protection Bureau levied a significant fine on Citizens Bank for mishandling discrepancies in customer deposits.
The use of eClosing platforms may help customer comprehension and efficiency during mortgage closings, according to a report from the Consumer Financial Protection Bureau.