Consumer complaints filed with the CFPB topped 500,000 in 2021, hitting a record high. Most of the complaints were against the three national credit reporting agencies. (Includes two data charts.)
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The CFPB’s rulemaking efforts to implement consumer financial data access rights under Section 1033 of the Dodd-Frank Act will now include the issue of consumer data portability.
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A multistate taskforce investigation revealed that hundreds of mortgage loan originators had falsely claimed to have completed annual continuing education.
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The agreement is a part of New York Community Bank’s pending acquisition of Michigan-based Flagstar Bancorp. The investment will cover communities in both banks’ footprints.
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Acre Mortgage and Financial has been accused of failure to make all required disclosures and failure to make a reasonable and good faith determination of the borrower’s ability to repay.
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The New York Department of Financial Services wants the CFPB to share with state regulators the data it plans to collect on small-business loans. The NYDFS also wants the final rule to extend coverage to include all minority- and women-owned businesses.
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In a new request for input, the bureau has asked consumers to share their experiences with fees charged in connection to their mortgages, deposit accounts, credit cards and prepaid accounts, among others.
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Earned wage access advisory opinion; civil penalty maximum adjusted; CFPB examining college-offered loans; final order in payments processor case; Bank of America class-action settlement.
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