The Securities Industry and Financial Markets Association and the Structured Finance Association have urged the U.S. Supreme Court to weigh in on the lawsuit involving the CFPB and student loan ABS.

Debt collectors collecting on already-paid medical bills, bills that contain false or incorrect medical charges or bills that exceed federal and state limits are in violation of the Fair Debt Collection Practices Act, the CFPB reminded servicers.

The consent order agreed to by the parties requires Navient to pay $120 million in consumer redress and fines.

The CFPB claimed NewDay lured VA borrowers into cash-out refi mortgages by hiding the true costs of the loans. The lender agreed to a consent order without admitting any wrongdoing, adding that the “outcome highlights an environment of regulatory overreach.”

In addition to a monetary fine, the CFPB has put compensation limits on Fay Servicing’s CEO if the compliance requirements are not met.

The bureau said some companies may be in violation of the CFPA if they include language in their non-disclosure agreements that discourage employees from reporting illegal misconduct.

The bureau found increasing instances of inaccurate reporting under the Home Mortgage Disclosure Act. Two lenders also faced fines recently.

The settlement resolves a new enforcement action against the bank for illegal auto loan activities as well as a 2020 lawsuit.

The nonbank lender has faced numerous actions from the CFPB since 2019 for alleged intentional misreporting of HMDA data.

Sutherland Global denies all allegations by the CFPB and said it was not “directly responsible for the reverse mortgage servicing conduct that is subject of the CFPB agreement.”