Newsroom archive

Lender provided incentives to Realty Connect and other brokerages in exchange for mortgage referrals

The CFPB filed a lawsuit in federal court against auto-loan servicer USASF Servicing for a host of illegal practices that harmed individuals with auto loans.

The CFPB sued lease-to-own finance company Snap Finance for deceiving consumers, obscuring the terms of its financing agreements, and making false threats.

Today, the Consumer Financial Protection Bureau (CFPB) joined with several state attorneys general and a state regulator to take action against Prehired for deceptive marketing and debt collection practices.

Today, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay more than $100 million to customers for systematically double-dipping on fees imposed on customers with insufficient funds in their account.

CFPB issues order against payment processor ACI Worldwide Corp. and its subsidiary ACI Payments Inc. (ACI) improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions. This is the CFPB’s first action addressing unlawful data handling practices in processing mortgage payments.

The Consumer Financial Protection Bureau (CFPB) took action against medical debt collector Phoenix Financial Services (Phoenix) for numerous debt collection and credit reporting violations.

The Consumer Financial Protection Bureau (CFPB) has ordered installment lender OneMain Financial to pay $20 million in redress and penalties for failing to refund interest charged to 25,000 customers who cancelled purchases within a purported “full refund period,” and for deceiving borrowers about needing to purchase add-on products to receive a loan.

Today, the Consumer Financial Protection Bureau (CFPB) reached a settlement to resolve CFPB’s allegations that Citizens Bank violated consumer financial protection laws and rules that protect individuals when they dispute credit card transactions.

Director Chopra delivered prepared remarks on modern-day redlining at Seton Hall University.

Today, the Consumer Financial Protection Bureau (CFPB) took action against James R. Carnes and Melissa C. Carnes, both individually and as co-trustees of the James R. Carnes Revocable Trust and the Melissa C. Carnes Revocable Trust for hiding money through a series of fraudulent transfers in order to avoid paying more than $40 million in restitution and penalties for illegal payday lending activities.

Today, the Consumer Financial Protection Bureau (CFPB) issued a policy statement that explains the legal prohibition on abusive conduct in consumer financial markets and summarizes over a decade of precedent.

Director Chopra delivered prepared remarks on fair dealing in financial markets to the University of California Irvine Law School.

The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination.

Director Chopra delivered prepared remarks at the Just Economy Conference hosted by the National Community Reinvestment Coalition in Washington, DC.

The Consumer Financial Protection Bureau (CFPB) took action today against Portfolio Recovery Associates, one of the largest debt collectors in the nation, for violating a 2015 CFPB order and engaging in other violations of law.

Deputy Director Martinez delivered prepared remarks on the CFPB’s junk fees work at the Consumer Law Scholars Conference in Berkeley, California.

Today, the Consumer Financial Protection Bureau (CFPB) permanently banned RMK Financial Corporation, which does business as Majestic Home Loans, from the mortgage lending industry by prohibiting RMK from engaging in any mortgage lending activities or receiving remuneration from mortgage lending.

Today, the Consumer Financial Protection Bureau (CFPB) took action against a web of corporate entities operating under TMX Finance, broadly known as TitleMax, for violating the financial rights of military families and other consumers in providing auto title loans.

The Consumer Financial Protection Bureau has reached a settlement in its lawsuit against law firm Forster & Garbus, LLP for illegal debt-collection practices.

The CFPB and the New York State Office of the Attorney General sued a predatory auto lender, Credit Acceptance Corporation, for misrepresenting the cost of credit and tricking its customers into high-cost loans on used cars.

Today, the CFPB issued an order against Servicio UniTeller, an international remittance company, for multiple violations of the requirements governing electronic money transfers, including failing to refund customers after the company made money transfer errors.

CFPB is ordering Wells Fargo Bank to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines.

Today, the CFPB is ordering Wells Fargo to pay more than $2 billion in redress to over 16 million consumers and a $1.7 billion civil penalty for widespread illegal activity across its major product lines for which it has never been held to account.

Today, the CFPB proposed requiring certain nonbank financial firms to register with the CFPB when they become subject to certain local, state, or federal consumer financial protection agency or court orders.