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.)
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The banking industry has come under criticism from consumer groups for filing a lawsuit against the new Community Reinvestment Act standards.
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Amicus briefs filed with the Supreme Court support Bank of America’s fight against a New York law requiring servicers to pay interest on funds held in mortgage escrow accounts.
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First National Bank of Pennsylvania’s $13.5 million settlement with the DOJ and North Carolina didn’t include a civil monetary penalty. DOJ officials stressed that more redlining enforcement is in the works.
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Joe Fischer, executive vice president and chief financial officer at Navient, said the servicer “remains confident about the strength” of its case and is open to finding a solution that is acceptable to all stakeholders.
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