CFPB Orders RPM Mortgage to Pay $19 Million for Steering Consumers Into Costlier Mortgages
RPM CEO Erwin Robert Hirt to Pay Additional $1 Million Civil Penalty WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) filed a complaint in federal district court against…
CFPB Study Finds Reverse Mortgage Advertisements Can Create False Impressions
CFPB Issues Advisory Warning Consumers Not To Be DeceivedWASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released results of a focus group study on reverse mortgage advertisements that…
CFPB Director Cordray Issues Decision in PHH Administrative Enforcement Action
WASHINGTON, D.C. — Today Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued a decision in the first appeal of a Bureau administrative enforcement proceeding. The Director’s decision concludes that…
CFPB Takes Action Against Guarantee Mortgage For Loan Originator Compensation Violations
Lender Ordered to Pay $228,000 Civil Penalty WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) ordered a California mortgage bank, Guarantee Mortgage Corporation, to pay a civil penalty…
Agencies Issue Final Standards for Assessing Diversity Policies and Practices of Regulated Entities
Joint Release: Board of Governors of the Federal Reserve SystemConsumer Financial Protection BureauFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the CurrencySecurities and Exchange Commission Federal agencies…
CFPB to Oversee Nonbank Auto Finance Companies
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) published a rule today that will allow the agency to supervise larger nonbank auto finance companies for the first time. The…
CFPB Takes Action Against Servicemember Auto Lender for Aggressive Debt Collection Tactics
Auto Loan Company Misled Servicemembers About Consequences of Nonpayment WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) sued an auto loan company, Security National Automotive Acceptance Company, for…
Statement by CFPB Director Richard Cordray on Know Before You Owe Mortgage Disclosure Rule
### The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules,…
CFPB Takes Action Against Medical Debt Collector
Company Mishandled Consumer Credit Reporting Disputes, Prevented Consumers From Exercising Debt Collection Rights WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) announced an enforcement action against a medical…
CFPB Finds 90 Percent of Private Student Loan Borrowers Who Applied for Co-Signer Release Were Rejected
Industry Inquiry Reveals Problems for Consumers Seeking to Prevent Auto-Defaults WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman released a report finding high rates of…