News – Page 3 – CFPB Journal

Lawsuit: Mortgage company submitted faulty HMDA data

The Consumer Financial Protection Bureau sued mortgage originator and servicer Freedom Mortgage Corp., for allegedly submitting erroneous Home Mortgage Disclosure Act data in 2020.

CFPB looks to remove medical bill data from credit reports

The Consumer Financial Protection Bureau wants to remove medical bills from credit reports.

Second court issues temporary injunction against Section 1071

The Consumer Financial Protection Bureau cannot enforce Section 1071 until the Supreme Court rules on the constitutionality of the agency’s funding structure, according to a ruling from the U.S. District Court for the Eastern District of Kentucky.

CFPB: College tuition payment plans can place students at risk

Students face risks when they enter into agreements with colleges to spread the upfront cost of their tuition into a series of interest-free loan payments, according to a Sept. 14 Consumer Financial Protection Bureau report.

CFPB reaches $2.7 billion settlement with credit repair companies

The Consumer Financial Protection Bureau reached a proposed $2.7 billion settlement with a group of corporate entities which operate the two largest credit repair companies in the country, Lexington Law and CreditRepair.com.

CFPB suing installment lender for ‘loan-churning’ practices

The Consumer Financial Protection Bureau sued high-cost installment lender Heights Finance Holding, formerly Southern Management, for alleged illegal loan-churning practices that harvested hundreds of millions in fees.

CFPB: Employer-driven debt harms workers

Employer-driven debt is keeping employees from leaving for better-paying positions and leaving them beholden to a separate lender, according to a recent Consumer Financial Protection Bureau report.

CFPB sues USASF Servicing for numerous violations

The Consumer Financial Protection Bureau filed a federal lawsuit alleging that auto loan company USASF Servicing incorrectly disabled at least 7,500 vehicles and failed to return millions of dollars in customer refunds.

CFPB: Consumer lenders violated numerous lending standards

Payday, auto and medical loan collectors have engaged in numerous unfair, deceptive and abusive practices during a recent eight-month stretch, according to a Consumer Financial Protection Bureau supervisory highlights report released July 26.

CFPB files federal lawsuit against Snap Finance

The Consumer Financial Protection Bureau sued lease-to-own consumer finance company Snap Finance for allegedly making false threats and obscuring the terms of its financing agreements.