Sen. Richard Shelby, R-AL, agreed with Warren’s criticism of the government’s failure to prosecute individual bankers, but he faulted the Department of Justice, not financial regulators...
“The CFPB’s plan will feature only one side of the story, and such one-sided accounts will not advance the CFPB’s mission of better informing and helping consumers,” said FSR chief Tim Pawlenty.
The New York AG has secured a temporary restraining order barring the loan mod companies from collecting advance fees. The state's top cop also froze their bank accounts.
Some lenders asked the CFPB if creditors are required to provide revised loan estimates on the same business day that a consumer or LO requests a rate lock.