Former HUD officials launch new compliance consulting firm; CFPB issues CID to Honda Finance; CFPB seeks further auto finance data; bureau to distribute funds to consumers harmed by debt relief company.

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.)

The banking industry has come under criticism from consumer groups for filing a lawsuit against the new Community Reinvestment Act standards.

The new disclosures on compliance findings from bank exams in 2022 include the nature of the violations, mistakes and risk mitigants.

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.

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.

The change to foreclosure rules in New York was enacted by legislation, while updates in Maine and Alabama were based on court rulings.

An upcoming final rule from the CFPB is set to force major changes in how credit card companies charge late fees.

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.

CFPB secures $12 million settlement; OCC imposes $65 million fine against bank.