More fair lending enforcement actions and investigations could come up over the next few months ahead of potential changes in the political landscape, according to Richard Horn, co-partner at the law firm of Garris Horn.
In an amicus brief submitted by the bureau, the regulator distinguished the purposes of the Truth in Lending Act’s repayment disclosure requirements for open-end lines of credit, helping two banks prevail in court.
While the regulator’s reverse redlining allegations against a defendant were dismissed, a Texas court offered the bureau the option to amend its complaint.
Servicing issues remained the top type of mortgage-related complaint received by the CFPB. The only mortgage category to see an increase in complaints was loan applications. (Includes two data tables.)
Complaints filed with the CFPB regarding mortgage servicing went up in the first quarter of 2024, while issues tied to mortgage originations declined. (Includes two data tables.)
Consumer complaints filed with the CFPB against the financial services industry increased in all most categories in the fourth quarter of 2023. (Includes two data tables.)
Consumer complaints filed with the CFPB regarding mortgages dropped 2.4% in 2023 amid a 40.6% fall in originations. Servicers were the main target of borrower ire. (Includes two data tables.)
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