CFPB Launches Public Inquiry Into Student Loan Servicing Practices
Bureau Seeks Information On Industry Practices That Can Create Student Debt Stress WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) is launching a public inquiry into student loan…
CFPB Takes Action Against PayPal for Illegally Signing Up Consumers for Unwanted Online Credit
PayPal to Refund $15 Million to Consumers and Pay $10 Million Fine WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed consent order in…
CFPB Launches Financial Coaching Initiative
The financial coaching program described in this post ran from April 2015 to March 2019 and has now been completed. Program Targets Transitioning Veterans and Economically Vulnerable Consumers WASHINGTON, D.C.…
CFPB and Department of Justice Take Action Against Provident Funding Associates for Discriminatory Mortgage Pricing
Harmed African-American and Hispanic Borrowers Will Receive $9 Million WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) filed a joint complaint against…
CFPB and Florida Attorney General Obtain $27.7 Million Judgment Against Foreclosure Relief Scam Companies
Court Enters Judgment Against the Hoffman Law Group and Affiliates for Deceiving Consumers and Collecting Illegal Advance Fees; Individuals Involved to Auction Jewelry, Watches to Pay Redress WASHINGTON, D.C. —…
CFPB Launches Financial Well-Being Initiative Targeted To People With Disabilities
ROADS to Financial Independence Initiative Will Pilot in Six Communities Nationwide WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) is announcing the launch of the Reach Outcomes. Achieve…
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…