November 2017 Articles – CFPB Journal

CFPB deal with servicer raises red flags

Earlier this month, the Consumer Financial Protection Bureau reached a settlement with Vantage Capital Group that handed VCG administration rights to more than 800,000 private student loans that had been mismanaged by a trust called National Collegiate Student Loan Trusts.

CFPB’s Cordray resigns, fracas ensues

Cordray named former chief of staff Leandra English as deputy director of the agency, to serve as the bureau’s acting director. Trump, however, appointed Office of Management and Budget Director Mick Mulvaney as the CFPB’s interim director.

CFPB sues debt relief firm for misleading customers

The Consumer Financial Protection Bureau filed a lawsuit last week against Freedom Debt Relief, the nation’s largest debt-settlement services provider, and its co-CEO and co-founder Andrew Housser, for allegedly deceiving consumers.

Number of ‘riskier’ auto loans rises, report says

Forty-two percent of auto loans made in the last year carried a payback term of six years or more, compared to just 26 percent in 2009, according to a report from the Consumer Financial Protection Bureau.