It’s possible the validity and outcomes of pending lawsuits involving enforcement actions will be fact-based and vary case by case, according to attorneys tracking the issue.
The CFPB is investigating Rocket Homes, the home search platform and broker referral network of Quicken Loans, for violations of the Real Estate Settlement Procedures Act, according to a recent S-1 filing.
According to witnesses testifying at a House hearing, the CFPB appears to be offering regulatory leeway to mortgage servicers but doing little to protect consumers’ interests.
The CFPB is devoting half of its supervisory resources to assessing industries that pose the most risks to consumers during the pandemic, including mortgage servicing.
The CFPB files lawsuit against companies providing student loan debt relief services; the CFPB encourages stakeholders to use its innovation programs to address regulatory uncertainties.
The Supreme Court said the president can fire the CFPB director at will but it refused to strike down the entire bureau. The court held that the for-cause provision can simply be severed from the rest of the statute.
The Supreme Court has left to the Ninth Circuit Court to decide whether the civil investigative demand that was the core of Seila Law’s argument could be enforced.
The CFPB has sent out examination notices to mortgage servicers about their COVID-19-related practices, according to industry attorneys tracking the matter.
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