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The Consumer Financial Protection Bureau took action against Fay Servicing, a mortgage servicer, for violations of the Dodd-Frank Act’s prohibition on unfair, deceptive and abusive acts or practices.
Reverse mortgages, financial scams and deferred interest credit cards topped the list of complaints by senior citizens, according to the latest monthly snapshot from the Consumer Financial Protection Bureau.
This marks the bureau’s first foray into regulating small business loans, and the announcement raises many questions for lenders that deal with small business.
A report issued by the Federal Reserve System Office of the Inspector General asserts that the Consumer Financial Protection Bureau failed to properly secure sensitive data it gathered for regulation and in investigations.
The bureau has entered into a consent order with auto lender Security National Automotive Company for insufficient progress in complying with an earlier consent order over its treatment of servicemembers who fell behind on loan payments.
The CFPB took action over alleged collection debts not legally owed, claiming they were offered under false pretenses which qualify as UDAAP violations.
The Consumer Financial Protection Bureau has issued the latest monthly report drawn from its online complaint database.
The Consumer Financial Protection Bureau is conducting an assessment of the mortgage servicing rules under the Real Estate Settlement Procedures Act.
The U.S. Court of Appeals for the District of Columbia handed down a ruling against a Civil Investigative Demand issued by the Consumer Financial Protection Bureau to the Accrediting Council for Independent Colleges and Schools.
The CFPB alleges that Weltman violated the Fair Debt Collection Practices Act and the Consumer Financial Protection Act in their correspondence with consumers.