A federal court is scheduled to hear arguments Friday over why it should (or should not) issue a preliminary injunction declaring the deputy director of the Consumer Financial Protection Bureau (CFPB) the true director of […]
A $28 million Kentucky credit union was placed into conservatorship Friday to give it time to “allow the credit union to continue regular operations with experienced management in place and to correct operational weaknesses,” the […]
A $55 million-in-assets credit union in Alabama became the fifth federally insured credit union to be liquidated in 2017; the 11,500 members and their savings and loans were merged into a Louisiana credit union, the […]
Eight individuals, through three prohibition orders and five notices of prohibition, were prohibited from participating in the affairs of any federally insured financial institution in November by the National Credit Union Administration (NCUA). In addition, […]
Separate civil money penalties (CMPs) totaling $243,000 were assessed on five individuals by the Office of the Comptroller of the Currency (OCC), as reported earlier this month; the national bank regulator also reported it took […]
Restitution of approximately $2.8 million was ordered to be paid by a Kansas bank for deceptive residential mortgage practices, the Federal Reserve said Tuesday. The restitution order, levied against Peoples Bank of Lawrence, Kansas, the […]
A dual fine totaling $6.5 million, and an order to “end these illegal servicing practices” was levied on Citybank, N.A. by the Consumer Financial Protection Bureau (CFPB) Tuesday over student loan servicing. According to the […]
Software errors that led to auto lenders sending incorrect information about more than 1 million borrowers to credit reporting agencies has resulted in a $1.1 million fine and a demand for a plan from the […]
Deceiving consumers, including charging them without settling their debts as promised, are among several charges brought against the nation’s largest debt settlement services provider in a lawsuit brought Wednesday by the Consumer Financial Protection Bureau […]
Five individuals – including one sentenced to a five-year prison term and restitution order of more than $400,000 — are prohibited from participating in the affairs of any federally insured financial institution, the National Credit […]
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