So far this year, the CFPB has brought 44 enforcement actions, with five against debt collectors. The bureau is currently juggling 30 cases, one of the largest litigation dockets in its history.
CFPB appoints former Freddie official to head Office of Innovation; CFPB cautions against reverse mortgage scams; mortgage servicers settle with DOJ; MMC examinations.
Mr. Cooper will pay $91.3 million to settle with state regulators and the CFPB for violations of federal and state servicing rules, according to an agreement released this week.
Rep. Maxine Waters urges CFPB leadership not to finalize any “midnight” regulations; Upstart receives no-action letter; CFPB brings lawsuits against online lender LendUp Loans and debt-relief service provider DMB.
Much of the conversation over the past few weeks following the election of Joe Biden to the White House has focused on the bureau’s mortgage-related actions.
One of Seila Law’s arguments was that the CID cannot be ratified because the applicable three-year statute of limitations had expired. The court, however, said the time bar only applies to lawsuits.
The CFPB halts reorganization of its supervision, enforcement and fair lending division; the bureau refuses to rescind a policy regarding credit reporting agencies.
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