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Home » Topics » Inside the CFPB » Enforcement

Enforcement
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DOJ Settles Redlining Claims With Oklahoma Bank

September 5, 2023
Sam Manas
The DOJ has settled redlining charges brought against American Bank of Oklahoma. HSBC Bank also disclosed recently that it’s under investigation by the Department of Housing and Urban Development for alleged redlining.
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CFPB Sues Installment Lender for Loan Churning

September 5, 2023
Sam Manas
The bureau has accused South Carolina-based Heights Finance of targeting borrowers for their likelihood to refinance and using coercive practices to drive them into fee-laden refinancing cycles.
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Credit Repair Firms Agree to $2.7 Billion CFPB Settlement

September 5, 2023
Sam Manas
The firms, which include Lexington Law and CreditRepair.com, were accused of misrepresenting to consumers that an upfront fee was necessary to begin the credit repair process.
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Debt Buyers May be Liable for Collectors’ Actions, Court Says

September 5, 2023
Sam Manas
A New York court has rejected a motion to dismiss a CFPB lawsuit against a group of debt buyers for violations of the Consumer Financial Protection Act and the Fair Debt Collection Practices Act.
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Freedom Agrees to Pay CFPB $1.8M to Settle Kickback Charges

August 21, 2023
Sam Manas
The settlement resolves charges that Freedom Mortgage provided real estate agents with cash payments, paid subscription services and catered parties in exchange for referrals.
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CFPB Enforcement Against Auto Finance Firm Stayed

August 21, 2023
Sam Manas
A New York state court has stayed proceedings in an enforcement action brought by the CFPB against a subprime indirect auto finance firm, pending the Supreme Court’s decision in the bureau’s funding case.
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CFPB Sues Auto Servicer for Illegal Repossessions

August 7, 2023
Sam Manas
The CFPB has accused USASF Servicing of illegally disabling consumers’ vehicles, failure to refund premiums, double-billing and incorrect repossessions.
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Other News in Brief

August 7, 2023
Sam Manas
CFPB won’t appeal Ocwen judgment; former CFPB senior counsel launches law firm; new appraisal standards will be available in print as well as digital format.
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CFPB Fines BofA Over Fake Credit Card Accounts, NSF Fees

July 24, 2023
Sam Manas
The consent orders related to Bank of America’s practice of charging repeat nonsufficient funds fees, denying rewards to credit card consumers and opening unauthorized credit card accounts.
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Attorneys Warn Real Estate Agents of CFPA Prohibitions

July 24, 2023
Sam Manas
Recent CFPB guidance on the prohibition of abusive practices could pose risks to real estate agents engaging in joint ventures with lenders and title companies, according to attorneys at McGuire Woods.
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