The Supreme Court is considering whether a federal court can certify a class action when some of the class members are uninjured. MBA said the question is timely as class actions from private plaintiffs are expected to increase.
It typically takes the CFPB less than one day to process a consumer’s complaint and send it to the company identified in the complaint. After the Trump administration disrupted operations at the bureau, the average complaint processing time temporarily jumped to six days.
The DOJ in a court filing accused the CFPB employee union of twisting a stop work order at the bureau as being part of a “coordinated campaign” by the Trump administration to eliminate the CFPB.
The stay for now only applies to some lenders. But a pending court ruling in a Kentucky lawsuit against the bureau’s Section 1071 rule could stay compliance with the rule for all covered entities.
Plaintiffs argued that fees charged to expedite payment were in violation of a Fair Debt Collection Practices Act provision that prohibits the collection of any amount unless it was expressly authorized when the debt was created.
Mortgage-related complaints submitted by consumers to the CFPB last year were the lowest since the bureau opened its door more than a decade ago. (Includes two data tables.)