CFPB Takes Action Against PHH Corporation for Mortgage Insurance Kickbacks
Today, the Bureau initiated an administrative proceeding against PHH Corporation and its affiliates (PHH), alleging PHH harmed consumers through a mortgage...
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CFPB Issues Consumer Advisory on Industry’s Data Breach
Advisory Offers Tips to Protect Accounts in Wake of Recent Payment Card Data Breaches Today the Bureau published a consumer advisory to help consumers...
CFPB Proposes Rule to Oversee Larger Nonbank International Money Transfer Providers
Today the Bureau proposed a rule that would allow it to supervise certain nonbank international money transfer providers for the first time. The proposed...
CFPB Takes Action Against Mortgage Kickbacks
Bureau Orders Missouri Lender to Pay $81,000 for Illegal Kickback Scheme Today the Bureau ordered a Missouri mortgage lender, Fidelity Mortgage Corporation...
CFPB Seeks Advisory Board and Council Applications
Today, the Bureau announced that it is seeking applications for positions on its advisory groups, the Consumer Advisory Board (CAB), the Credit Union...
CFPB Releases New Mortgage Rule Resources for Consumers
Today the Bureau released additional resources for consumers as part of its campaign to educate the public about the new protections provided by the...
CFPB Announces Increase in Higher-Priced Mortgage Loans Escrow Account Asset-Size Threshold
The Bureau today issued a final rule adjusting the asset-size threshold for certain creditors to qualify for an exemption from the requirement to establish...
CFPB Announces Increase in Home Mortgage Disclosure Act Asset-Size Exemption Threshold
The Bureau today issued a final rule adjusting the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C...
CFPB and DOJ Take Action Against National City Bank for Discriminatory Mortgage Pricing
Today, the Bureau and the Department of Justice (DOJ) filed a joint complaint against National City Bank for charging higher prices on mortgage loans to...
CFPB Orders American Express to Pay $59.5 Million for Illegal Credit Card Practices
The Bureau today ordered American Express to refund an estimated $59.5 million to more than 335,000 consumers for illegal credit card practices. These...
CFPB and DOJ Order Ally to Pay $80 Million to Consumers Harmed by Discriminatory Auto Loan Pricing
Ally to Pay Additional $18 Million in Civil Penalties for Harming More Than 235,000 Minority Borrowers.
CFPB, State Authorities Order Ocwen to Provide $2 Billion in Relief to Homeowners for Servicing Wrongs
Largest Nonbank Servicer Will Also Refund $125 Million to Foreclosure Victims and Adhere to Significant New Homeowner Protections Today, the Bureau...
Federal Financial Regulators Extend Comment Period for Proposed Policy Statement on Assessing Diversity Policies and Practices of Regulated Entities
Six federal financial regulatory agencies announced today that they are extending the comment period for their proposed policy statement for assessing...
CFPB Launches Nationwide Education Campaign About New Mortgage Rules
Materials Offer Consumers Tips on Taking Advantage of New Protections Today, the Bureau launched a campaign to educate the public about the new protections...
CFPB Calls on Financial Institutions to Publicly Disclose Campus Financial Agreements
Bureau Finds a Continued Decline in College Credit Card Agreements Today, the Bureau called on financial institutions to publicly disclose agreements with...
CFPB Sues CashCall for Illegal Online Loan Servicing
Today the Bureau took its first action against an online loan servicer, CashCall Inc., its owner, its subsidiary, and its affiliate, for collecting money...
Agencies Issue Final Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements
Six federal financial regulatory agencies today issued a final rule that creates exemptions from certain appraisal requirements for a subset of...
CFPB Finds Few Consumers File Arbitration Cases
Today, the Bureau released preliminary research on the use of arbitration clauses in connection with consumer financial products and services. The research...
CFPB Orders GE CareCredit to Refund $34.1 Million for Deceptive Health-Care Credit Card Enrollment
More than 1 Million Consumers Were Potential Victims of Misleading Practices Today the Bureau is ordering GE Capital Retail Bank and its subsidiary...
CFPB to Oversee Nonbank Student Loan Servicers
The Bureau issued a rule today that allows the Bureau to supervise certain nonbank student loan servicers for the first time. The rule brings new oversight...
Consumer Financial Protection Bureau Takes Action Against Payday Lender For Robo-Signing
Cash America to Refund up to $14 Million for Robo-Signing and Illegally Overcharging Servicemembers The Bureau today took its first enforcement action...
CFPB Finalizes “Know Before You Owe” Mortgage Forms
New Forms Improve Consumer Understanding, Aid Comparison Shopping, and Help Prevent Surprises The Bureau is issuing a rule today requiring easier-to-use...
The CFPB Finds Financial Education Programs are Significantly Outspent by Financial Marketing
Today, the Bureau published a report analyzing the amount of money spent on providing financial education to consumers and the amount spent trying to...
The CFPB Takes Action Against Mortgage Insurer to End Illegal Kickbacks to Lenders
Republic Mortgage Insurance Corporation to Pay $100,000 Fine and Halt Illegal Activity The Bureau today took action against Republic Mortgage Insurance...
The CFPB and City of Columbus Team Up to Help Local Consumers with Questions and Complaints
Columbus Consumers Can Call 311 to Connect with the CFPB About Financial Issues Today, the Bureau and the City of Columbus announced a partnership to...