A California district court found Jawad Nesheiwat, the company’s COO, guilty of providing consumer credit information to student loan debt-relief companies to use in marketing their services.
A Maryland homeowner sought to file a class action against Bank of America for violating a state law requiring banks to pay interest on funds maintained in escrow accounts.
The bureau filed a joint amicus brief with the Federal Trade Commission in a case that seeks to use a section of the Communications Decency Act to avoid prosecution under the Fair Credit Reporting Act.
Seila Law ends Supreme Court quest; compliance date of 2017 rule delayed again; CFPB joins other regulators on LIBOR statement; CFPB seeks clarity on Regulation O; consumers seek regulation of earned wage access products.
With the Senate confirming Rohit Chopra as CFPB director, industry participants are preparing for regulatory whiplash after relaxed enforcement and rulemaking during the Trump administration.
The federal regulator will continue to take a close look at mortgage servicers’ actions as a wave of distressed borrowers nears the end of their pandemic-related forbearance programs.
Rather than going after credit repair companies for violating the Telemarketing Sales Rule, the CFPB filed a lawsuit against a software company and its owner for aiding credit repair companies.
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