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The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.
September 16 -
A federal judge found last year that a credit reporting dispute did not have to be investigated because the consumer's complaint was frivolous. The Consumer Financial Protection Bureau and the Federal Trade Commission argue that the decision undermines a key purpose of the Fair Credit Reporting Act.
September 15 -
The Conference of State Bank Supervisors abandoned a lawsuit against the Office of the Comptroller of the Currency that had challenged the San Francisco fintech's effort to become a national bank without deposit insurance. The company recently amended its application to drop that controversial element.
January 14 -
Mary Mack testified last week about the cultural problems she encountered after joining the bank's consumer unit in 2016. Recalling small group meetings she held with employees, she said: "People would stand up, and they were fearful."
November 1 -
The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.
July 30 -
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.
July 27 -
Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.
May 11 -
Less than two years after shutting down its biggest business amid fraud allegations, the Michigan company has sold branches, settled a shareholder lawsuit and returned to profitability under turnaround specialist Thomas O’Brien.
May 7 -
The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.
April 22 -
The CFPB’s allegations are similar to unresolved accusations Connecticut first levied against the company in 2018.
January 15