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On April 12, the Consumer Financial Protection Bureau was in federal court defending its governance structure against a lawsuit filed by PHH Mortgage pursuant to a penalty levied by the Bureau last year. If the initial interrogatories and oral arguments are any indication, the CFPB may face a significant restructuring.
The Consumer Financial Protection Bureau has amassed more than $300 million in its consumer relief fund, according to a budget report issued by the Bureau in February.
Independent mortgage banks are starting to feel the sting from new mortgage rules implemented by the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declares bankruptcy or dies.
The Consumer Financial Protection Bureau issued an interim final rule on March 22 which will broaden special provisions for small creditors that operate in rural or underserved areas.
CFPB Director Richard Cordray sat down in front of the House Financial Services Committee for a hearing last week, delivering the bureau’s semi-annual report and taking questions.
The Consumer Financial Protection Bureau has asked a federal district court to enter a final judgment and order that would shut down a student debt relief company.
On March 2, 2016, the CFPB issued its first enforcement action directed at an organization’s information security practices. Dwolla, Inc., entered into a Consent Order with the CFPB which identifies “deceptive acts and practices relating to false representations” relating to the company’s data security practices in violation of UDAAP.
The new TILA-RESPA Integrated Disclosure rule from the Consumer Financial Protection Bureau is delaying mortgage closures and causing banks to trim their offerings, according to a survey.
A recent report by K&L Gates highlights the conclusions that can be drawn from the CFPB’s understanding of an abusive act.