The pandemic-related higher-level examination conducted by the CFPB found several instances of mortgage servicer deficiencies that raise the risk of consumer harm.

Consumer gripes related to mortgage applications more than doubled to 5,304 in 2020 from 2,588 in 2019. Complaints about loan closings were also sharply up at 43.8%. (Includes two data charts.)

The newly minted state regulator modeled after the federal CFPB has issued subpoenas to a dozen debt collectors based on consumer complaints.

The CFPB had charged the Oakland, CA-based online lender with various violations under the Military Lending Act.

The two agencies will collaborate in strategy planning sessions to identify and address areas of alignment and coordination in examinations for covered institutions.

The CFPB selects seven communities for its “Start Small, Save Up” initiative; New financial educational guide released to help servicemembers and their families.

Chopra, an FTC commissioner and former student-loan watchdog at the CFPB, has been nominated to lead the agency. Should mortgage bankers worry?

Consumer complaints across all categories sharply increased from the third to the fourth quarter of 2020. On an annual basis, gripes jumped 47.3%. Credit reports drew the most grievances while mortgage-related issues saw a relatively modest increase. (Includes data chart.)

The Ninth Circuit Court of Appeals ruled in favor of the CFPB, concluding that the 2017 civil investigative demand issued to Seila Law was validly ratified by Director Kathy Kraninger in July 2020.

The Hartford, CT-based firm is accused of using unlicensed employees to engage in mortgage origination activities in violation of the Truth in Lending Act. The bureau is seeking injunctions against the defendants, as well as damages, redress and penalties.