News – Page 39 – CFPB Journal

CFPB slaps Nationstar with $1.75 million fine

This week, the Consumer Financial Protection Bureau entered into a consent order with Nationstar Mortgage that will require the lender to pay $1.75 million over HMDA violations.

Most Americans don’t know what the CFPB is

Four-fifths of Americans are so unfamiliar with the Consumer Financial Protection Bureau they don’t have an opinion on it, according to a survey from CreditCards.com.

Federal judge reaffirms doubts about CFPB’s constitutionality

Brett Kavanaugh, the judge who issued a ruling in October declaring the CFPB’s structure unconstitutional, reiterated his doubts about the agency’s legitimacy in a recent dissent.

CFPB seeks $107 million in bankruptcy claim

The bureau asked for the payment as part of a final judgment against Orion Processing LLC, a bankrupt company embroiled in an alleged debt-relief scheme that cost consumers millions in what the bureau called “exorbitant, illegal upfront fees.”

Credit reporting issues highlighted

Complaints about credit reports and from consumers in Louisiana were spotlighted in the latest monthly snapshot from the Consumer Financial Protection Bureau.

CFPB launches inquiry into services for credit invisible

The Consumer Financial Protection Bureau has launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score.

Cordray allegedly in illegal contact with Democratic operative

Richard Cordray, director of the Consumer Financial Protection Bureau, allegedly used private communication equipment to hide his contact with high-level operatives in the Democratic party during the election season.

Mortgage complaints highlighted

Mortgage servicing and misapplied funds are major sources of consumer complaint, according to the latest monthly complaint snapshot from the Consumer Financial Protection Bureau.

CFPB fines mortgage lender for kickbacks

The Consumer Financial Protection Bureau fined Prospect Mortgage $3.5 million for improper mortgage referrals, in what the regulator calls a “kickback” scheme.

CFPB expands scope of UDAAP

The Consumer Financial Protection Bureau targeted MasterCard and UniRush, a prepaid card issuer, over a technical glitch with a platform migration that left some consumers unable to access funds in a timely manner.