News – Page 55 – CFPB Journal

CFPB pulls back on plan to control consumer complaint data

Before July 14, the Consumer Financial Protection Bureau was working to get banking industry feedback on a contract to govern banks’ use of consumer complaint data.

CFPB warns against misuse of ‘mini-correspondent’ label

The Consumer Financial Protection Bureau has issued guidance warning mortgage brokers against the misuse of the “mini-correspondent” lender identification.

ABA objects to proposed CFPB arbitration study

The American Bankers Association joined two other trade groups in urging the Office of Management and Budget not to approve a survey on credit card arbitration agreements proposed by the CFPB.

CFPB renovation costs increase again

Estimated renovation costs for the rented headquarters of the Consumer Financial Protection Bureau have increased yet again, to approximately $215 million, according to a report from the Federal Reserve’s Inspector General Mark Bialek.

GE Capital fined for discrimination, deceptive card practices

The Consumer Financial Protection Bureau and the Department of Justice have fined the institution formerly known as GE Capital Retail Bank $228 million for deceptive marketing and discriminatory credit card practices.

CFPB caught between its promises and pressure from Congress on auto title loans

The CFPB is a data-driven agency. That is the message given countless times on the bureau’s website and in the speeches of Richard Cordray, the agency’s director.

CFPB continues crackdown on mortgage kickbacks

A New Jersey title services company is the latest to feel the effects of a crackdown on mortgage kickbacks by the Consumer Financial Protection Bureau.

Alabama real estate firm fined for RESPA violations

The Consumer Financial Protection Bureau has fined real estate firm RealtySouth $500,000 for inadequate mortgage disclosures resulting in illegal kickbacks.

CFPB: Medical debt disproportionately affects credit scores

Credit scoring models may over-estimate the impact of consumers’ medical debt, according to a study from the Consumer Financial Protection Bureau.

Number of seniors with mortgages up, CFPB finds

Approximately 30 percent of the 41 million Americans older than 65 years old have mortgages, according to a recent report from the Consumer Financial Protection Bureau.