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.

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