Enforcement

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

The Department of Housing and Urban Development and Federal Housing Finance Agency, which supervises Fannie Mae and Freddie Mac, formed a pact to share information and coordinate investigations of potential fair-lending violations.

A three-judge panel determined that a lower-court ruling against two law firms specializing in mortgage repair had used the wrong measure to calculate restitution.

Under the agreement with New York Department of Financial Services, the company will promote the purchase of homes in historically disadvantaged communities in the northern part of the state.

The scheme's victims included an elderly woman and a local title agency that lost $230,000 in the fraudulent property transfer.

While the company did notify the public and regulators in May 2019, executives were not aware at the time that there was previous knowledge of the security vulnerability within the company.

Mortgage lenders should develop a comprehensive program to identify potential risks of noncompliance with consumer protection rules and take corrective actions before the Biden-era Consumer Financial Protection Bureau comes calling.

The agency is looking to clarify existing regulations around how these accounts are handled, based on questions it received.

The departures of Bryan Schneider and Peggy Twohig come as the Biden administration's nominee to run the consumer bureau awaits Senate confirmation.

The CFPB missives are an early and unmistakable warning that the era of COVID-19 flexibility is over, write two partners and a law clerk from Buckley LLP.

The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.

The Consumer Financial Protection Bureau's revocation of a Trump-era policy on abusive practices could mean higher fines and penalties for violators. But it still isn't clear what makes a practice abusive.

The complaint alleged the bank discriminated by refusing to make a mortgage loan after learning it would be used to finance a group home for disabled people.

Federal Judge Kenneth Marra for a second time has granted the mortgage company summary judgment in the case brought by the bureau in 2017.

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student loan servicers that aren't helping troubled borrowers.

Rohit Chopra, President Biden’s nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.

The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.

Dave Uejio, acting director of the Consumer Financial Protection Bureau, promised to protect veterans from predatory loans and to crack down on companies that improperly garnish stimulus checks or mistreat struggling borrowers.

The former executive at Lend America, who has remained out of prison since his 2011 guilty plea, will not be incarcerated for his acts.