Tag Archives: Consumer Financial Protection Bureau

Most of the complaints boil down to consumer confusion over the terms of a loan. The most common complaint is that borrowers are unable to refinance. Related, many consumers dislike that they cannot change the terms of the loan.

U.S. Representative Steve Stivers (R-Ohio), along with U.S. Representative Tim Walz (D-Minnesota), re-introduced the Bureau of Consumer Financial Protection Act of 2015, a bill that would create the position of an independent Inspector General for CFPB.

The bureau announced it is suing reverse mortgage lender All Financial Services with the intent to halt the lender's illegal activities and has imposed civil fines on both Flagship Financial Group and American Preferred Lending. The latter two companies were ordered to cease their false advertising in addition to paying civil fines.

Federal regulators have released the last video in a series created to help bank employees meet regulatory requirements set by the Consumer Financial Protection Bureau (CFPB).

With months to go before the Consumer Financial Protection Bureau's (CFPB) Integrated Disclosure Rule takes effect, California-based DocMagic says its entire solution set is now aligned to transition into the new requirements.

According to CFPB, NewDay deceived consumers by failing to disclose its financial relationship with a veterans' organization in direct mail advertising materials.

In a release, the bureau detailed a number of proposed revisions it hopes will increase options for community banks and other smaller mortgage lenders who may have been adversely impacted by last year's newly implemented rules.

FDIC has released another new entry in a series of technical assistance videos created to help bank employees meet regulatory requirements in the mortgage space.

Months after partnering up as part of the Consumer Financial Protection Bureau's (CFPB) pilot eClosing program, real estate tech firm Pavaso and Utah-based lender Mountain America Credit Union announced that they have successfully pared the mortgage closing process down to a matter of minutes.

In an announcement on Thursday, the Consumer Financial Protection Bureau (CFPB) said loan officers at Wells Fargo and JPMorgan Chase accepted cash, marketing materials, and consumer information in exchange for business referrals to Genuine Total, a now-defunct title firm formerly headquartered in Maryland.