In short, cryptic statement, bureau pledges to resolve alleged unauthorized withdrawals by Texas-based mortgage servicer

Alleged unauthorized withdrawals by a Texas-based mortgage servicer sparked the federal consumer financial protection agency to issue a statement Tuesday pledging to take “immediate action to understand and resolve the situation that has affected hundreds of thousands of consumers.”

In a statement, Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio said the bureau would use “all appropriate tools at our disposal to help ensure harmed consumers receive relief.”

The statement also alleged that unauthorized, duplicate-payment drafts by the firm Mr. Cooper (formerly known as Nationstar Mortgage Holdings Inc., headquartered in Coppell, Texas) “appear to have resulted in hundreds of thousands of consumers’ bank accounts being debited for multiples of their mortgage payments.”

The bureau’s release also alleged that “affected consumers have reported being charged overdraft fees and likely suffered additional harm as a result of these unauthorized withdrawals.”

Statement by CFPB Acting Director Dave Uejio on Mr. Cooper Unauthorized Withdrawals

 

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