Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Two final rules related to “qualified mortgages” (QMs) – one instituting a limit on lending based on a loan’s pricing, and the second creating a “seasoned QM” – were released Thursday by the federal consumer […]
A $204,000 civil money penalty was assessed Tuesday against RAB Performance Recoveries, LLC, in a consent order with the Consumer Financial Protection Bureau (CFPB), which said the firm threatened to sue and sued consumers for […]
Nationstar Mortgage, LLC, would be required to pay about $73 million in redress and a civil money penalty of $1.5 million under a complaint and proposed stipulated order filed Monday by the Consumer Financial Protection […]
An injunction, damages, redress to consumers, disgorgement of ill-gotten gains, and the imposition of civil money penalties against LendUp Loans LLC are sought in a suit filed Friday by the Consumer Financial Protection Bureau (CFPB) […]
Title: Advisory Opinions Policy Subject: Advisory opinions Agency: CFPB Status: Procedural rule Summary: The Bureau of Consumer Financial Protection (Bureau) is issuing its final Advisory Opinions Policy (Advisory Opinions Policy), which sets forth procedures to […]
A Beverly, Mass., debt-settlement and relief firm has violated telemarketing regulations by engaging in abusive and deceptive acts, the federal consumer financial protection agency charged in a lawsuit filed Monday. According to the Consumer Financial […]
An automated model for underwriting and pricing applicants for unsecured, closed-end loans has earned a “no-action letter” (NAL) for a California-based firm that provides an online lending platform, the Consumer Financial Protection Bureau (CFPB) said […]
Five new members were added to the federal consumer financial protection agency’s management team Monday, including a new chief operating officer, the agency announced. In a release, the Consumer Financial Protection Bureau (CFPB) said it […]
Credit unions, banks, and other entities questioning whether to comply with regulatory requirements can submit a request to the federal consumer financial protection agency to clear up any uncertainty, the agency said under a new […]
Title: Amendments Relating to Disclosure of Records and Information Subject: Information disclosure Agency: CFPB Status: Final rule Summary: This final rule amends the Bureau’s rule regarding the confidential treatment of information obtained from persons in […]
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