In responses to the CFPB’s request for information on ways to streamline refis and make loss mitigation easier to access, industry groups expressed resistance to some new ideas floated by the bureau.
The CFPB’s annual financial report showed an uptick in staffing and expenses but a significant increase in the civil money penalties collected. Victim compensation flagged a bit. (Includes data chart.)
The bureau intends access to the “government portal” to allow cities and counties to be more responsive to consumers. But it also expects the data sharing will enable it to “force-multiply” enforcement efforts.
The servicer argued that the borrower hadn't returned the loan modification agreement in time. But the court said that detail was a matter of factual dispute.
Auto loans comprise approximately one-third of all non-mortgage debt. Yet most of the data on the market is aggregated, reducing the ability to spot competitive opportunities or potential risks.
The appeals court had temporarily dismissed class-action claims that PNC Bank made unauthorized withdrawals from a borrower's deposit accounts to cover payments on a home equity line of credit.
The CFPB and the Federal Trade Commission weighed in with the 11th Circuit Court of Appeals, arguing that a lower court ruling would hurt the enforceability of the Military Lending Act.
Supreme Court grants extension for response to bureau appeal; CFPB slams tenant background checks; CFPB, NY AG penalize 9/11 fraudster; CFPB files enforcement action for “fake” CD accounts.
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