FOR IMMEDIATE RELEASE: May 14, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU 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…
OR IMMEDIATE RELEASE: May 11, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU FILES SUIT AGAINST NATIONWIDE BIWEEKLY FOR LURING CONSUMERS WITH FALSE PROMISES OF MORTGAGE SAVINGS Consumers Paid $49 Million in Fees for Deceptive Mortgage Payment Program WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) filed a lawsuit…
FOR IMMEDIATE RELEASE: May 5, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 Prepared Remarks of Richard Cordray Director of the Consumer Financial Protection Bureau Credit Reporting Press Call Washington, D.C. May 5, 2015 Thank you for joining us on this call. Today we are releasing a report finding that about one in 10 adults in…
FOR IMMEDIATE RELEASE: April 29, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU AND STATE OF MARYLAND TAKE ACTION AGAINST “PAY-TO-PLAY” MORTGAGE KICKBACK SCHEME Loan Officers and Former Title Company Executives Who Traded Cash and Marketing Services for Illegal Referrals Will Be Banned, Pay Redress and Penalties WASHINGTON, D.C. — Today…
FOR IMMEDIATE RELEASE: April 28, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU FINES REGIONS BANK $7.5 MILLION FOR UNLAWFUL OVERDRAFT PRACTICES Bank Refunds $49 Million in Illegal Fees to Consumers Who Did Not Opt-In to Overdraft WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) took action against Regions…
Green Tree to Pay $48 Million in Borrower Restitution and $15 Million Fine for Servicing Failures WASHINGTON, D.C.– Today, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) took action against Green Tree Servicing, LLC, for mistreating mortgage borrowers who were trying to save their homes from foreclosure. The mortgage servicer failed…
FOR IMMEDIATE RELEASE: March 31, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU ANNOUNCES NEW ‘KNOW BEFORE YOU OWE’ MORTGAGE SHOPPING TOOLKIT “Your Home Loan Toolkit” Will Help Consumers Be Informed Mortgage Shoppers Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a new toolkit that guides consumers through…
FOR IMMEDIATE RELEASE: March 19, 2015 CONTACT: Office of Communications Tel: (202) 435-7170 CONSUMER FINANCIAL PROTECTION BUREAU FINALIZES POLICY TO GIVE CONSUMERS THE OPPORTUNITY TO VOICE PUBLICLY COMPLAINTS ABOUT FINANCIAL COMPANIES Consumers Can Now Opt-In to Share Complaint Narratives in CFPB’s Public Database WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) is finalizing…
March 10, 2015 WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau released a study indicating that arbitration agreements restrict consumers’ relief for disputes with financial service providers by limiting class actions. The report found that, in the consumer finance markets studied, very few consumers individually seek relief through arbitration or the federal courts, while…
The CFPB has taken another action against – NewDay Financial, LLC – for deceptive mortgage advertising and kickbacks. In short, NewDay deceived consumers about a veterans’ organization’s endorsement of NewDay products and also participated in a scheme to pay kickbacks for customer referrals. The CFPB has fined NewDay a $2 million civil money penalty for its actions. Click here…
