An Inside Look as a Juror - FCRA Focus Podcast
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
On August 21, the CFPB entered into a consent order with a nonbank mortgage servicer for mortgage servicing violations and for violating an earlier 2017 CFPB consent order for deficient foreclosure practices. In 2017, the...more
On August 21, 2024, the CFPB issued a Consent Order against the Company citing alleged failure to provide accurate information about loss mitigation options and improper handling of loan modifications. The Consent Order...more
On August 21, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a Florida-based mortgage servicer, resolving allegations related to the mortgage servicer’s...more
On June 18, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it has entered into consent orders with two companies totaling $16.5 million in civil penalties and consumer redress,...more
The CFPB entered into consent orders with a Home Equity Conversion Mortgage ("HECM," also known as a "reverse mortgage") servicing contractor, its subcontractor, and two of its subcontractor's subsidiaries. The U.S....more
As we reflect on the previous year and look toward the new year, we thought you’d appreciate our top 20 most-read Consumer Finance ABstract posts from 2023...more
The latest edition of the Payments Docket, our roundup of key litigation involving the payments industry, features fintechs and nonbanks continuing to face regulatory scrutiny, a pair of processors failing to process...more
The CFPB announced this week that it has entered into a consent order with ACI Worldwide Corp. and one of its subsidiaries, ACI Payments, Inc., in connection with more than 1.4 million erroneous electronic fund transfer...more
In this month's article, we share some of our top "bites" for the prior month covered during the May 2023 webinar....more
On November 17, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a California-based mortgage servicer concerning its purported failure to provide certain borrowers...more
On April 1, 2021, the Consumer Financial Protection Bureau emphasized that the mortgage servicing industry must prepare now for an inevitable increase later this year in loss mitigation requests from borrowers whose COVID-19...more
Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more
The Consumer Financial Protection Bureau (CFPB) announced today that it has entered into a settlement with Nationstar Mortgage, LLC, d/b/a “Mr. Cooper,” one of the nation’s largest mortgage servicers and the largest non-bank...more
On May 11, 2020, the Consumer Financial Protection Bureau (CFPB) settled with a Colorado-based mortgage servicer that serviced a portfolio of mortgage loans worth approximately $112.69 billion. According to the CFPB, the...more
In a Consumer Financial Protection Bureau (“CFPB”) action against a mortgage services company, its subsidiary, and its founder, a California district judged denied an award of $73.9 million in restitutionary relief, and...more
On January 23, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a mortgage servicer, resolving allegations that the servicer violated the Real Estate Settlement Procedures...more
On January 23, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a mortgage servicer, resolving alleged violations of the Real Estate Settlement Procedures Act (RESPA), the...more
The CFPB announced that it entered into consent orders with three reverse mortgage companies to settle the CFPB’s allegations that the companies engaged in deceptive advertising in violation of the Mortgage Acts and...more
In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more
In its Supervisory Highlights recently released, which cover the period from January to April 2015, the Consumer Financial Protection Bureau (“The Bureau”) reported its examination observations in consumer reporting, debt...more