Not satisfied with Wells Fargo’s progress in complying with a regulatory consent order, the CFPB is considering all options to get the bank to fall into line.
Mortgage-related complaints filed with the CFPB in the first quarter of 2019 fell to the lowest level since 2012, with almost all categories seeing double-digit declines.
Senators Seek Data on CFPB Oversight of Student Loan Servicers; House Financial Services Committee Approves Waters’ CFPB Bill; Utah Creates a Regulatory Sandbox for Fintech Firms; CFPB Settles with Online Lead Aggregator.
In May of last year, then acting Director Mick Mulvaney threatened to end public access to the CFPB’s consumer complaint database, calling it “a Yelp run by the federal government.” He issued two requests for information about complaint reporting and handling processes.But it’s been nearly a year since then, and the bureau still hasn’t decided what it should do with the complaint database.
The Office of Inspector General for the CFPB in a new report revealed that the bureau inadvertently scheduled examinations of non-banks that were outside its supervisory jurisdiction, burdening the firms and wasting the agency’s resources.
The public release of the significantly expanded loan-level data reported by lenders has sparked fear among industry participants of increased scrutiny from regulators and public interest groups.
RSS