RMK Financial/Majestic Home Loans continued to use advertisements that led consumers to believe it was affiliated with the FHA or VA in violation of a 2015 consent order.
Appellate courts are rejecting older interpretations of the Fair Credit Reporting Act and Fair Debt Collection Practices Act, while the CFPB is pushing its own readings of them through guidance.
The CFPB last month finalized, without changes, a procedural rule to update its Rules of Practice for Adjudication Proceedings. The bureau received four comments on the rulemaking.
The Appraisal Foundation plans to revise ethics rule draft; CashCall faces $169 million in restitution and fines; companies not reporting credit card payment data; public benefits programs subject to fees; CFPB, FTC seek input on tenant background checks; DOJ redlining settlement.
Records obtained by a law firm under the Freedom of Information Act reveal that the CFPB opened only 25 new enforcement investigations in fiscal year 2022, compared to 64 in the year before. The bureau, meanwhile, has made headway in hiring attorneys.
TransUnion in talks with the CFPB and FTC to settle charges; medical collections declined in the past four years; CHLA seeks exemption for members from CFPB’s “repeat offender” registry.
The CFPB sued Chicago-based Townstone Financial in 2020, alleging that statements made on its radio show discouraged Black prospective applicants from applying for mortgage loans.
The Ninth Circuit Court of Appeals vacated and remanded a district court order that sided with the CFPB over mortgage payment company Nationwide Biweekly Administration.
The Los Angeles-based lender agreed to a $31 million payout to settle charges it engaged in redlining by denying residents in majority-Black and Hispanic neighborhoods fair access to mortgage credit.
COO held liable for fraud scheme; companies offering negative option subscriptions on alert; NY law firm settles with CFPB; court says CFPB enforcement authority extends to scholarship assistance marketing.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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