SEC administrative adjudications found unconstitutional; NCRC settles with Movement Mortgage; CFPB and New York attorney general settle case against debt collectors.
Discover Bank has agreed to pay $35 million to settle student loan violations while Santander Consumer USA was fined $4.75 million for credit reporting miscues tied to auto loans.
The CFPB has brought eight enforcement actions, including six settlements and two lawsuits, in September alone. Four of the settlements resolve charges regarding sending deceptive mailers to veterans.
CFPB-Education Department MOU; CFPB’s associate director for research, markets and regulation resigns; Puerto Rico reporting requirements; debt collection event.
Nearly two dozen Democratic senators urged the CFPB to immediately open an enforcement investigation into a servicer’s management of a student loan forgiveness program.
Democratic senators have asked Ombudsman Robert Cameron how he plans to deal with potential conflicts of interest tied to his previous employer, a federal student loan servicer.
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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