Heading into the home stretch of 2015, which will be marked by significant changes brought about by the Consumer Financial Protection Bureau’s (CFPB) highly anticipated TILA-RESPA Integrated Disclosures (TRID) rule and a potential Fed interest rate hike, mortgage industry professionals are carrying around a great deal of optimism for the near term. Show More Summary
The Consumer Financial Protection Bureau has released its latest report on the various complaints the agency has received about banks, lenders, debt collectors, and other financial services. Amid a sudden increase in the number of complaints...Show More Summary
Federal regulators are considering suing Navient Corp., the nation's largest student loan company, for allegedly cheating borrowers, the company said Monday. The Consumer Financial Protection Bureau, which has been investigating the company for nearly two years, sent Navient a letter on Aug. Show More Summary
So you’ve spent the last 23 months preparing to comply with the Consumer Financial Protection Bureau’s new TILA-RESPA Integrated Disclosures rule, or TRID, which takes effect on Oct. 3. But what about your clients?...
With about six weeks to go before the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosures (TRID) rule takes effect, the bureau is offering guidance, resources and tips to help real estate agents and brokers prepare to comply with the new regulation...
Five months after the Consumer Financial Protection Bureau warned that pension advance loans could be the new payday loan – leaving consumers who are already struggling to make ends meet in dire financial situations – the agency announced it had teamed up with the state of New York to shut down two companies that allegedly deceived retirees about the risks … [More]
Just two years ago, the Consumer Financial Protection Bureau estimated that nearly 33 million american workers eligible for student loan forgiveness weren’t taking advantage of the programs. Times have certainly changed, as the federal...Show More Summary
A compliance bulletin recently issued by the Consumer Financial Protection Bureau (CFPB) directing mortgage servicers on the proper way to charge homeowners for private mortgage insurance (PMI) has provided a new opportunity for Tactile Finance, a Web-based technology company that provides homeowners with a “360-degree view” of their mortgages...
Some lenders are automating the mortgage process with e-closings, and the Consumer Financial Protection Bureau says that could make things simpler for borrowers.
The CFPB has been operating for four years now and if it were a sports team, its coach, Richard Cordray, would certainly be looking for work.
Richard Cordray, CFPB chief The Consumer Financial Protect Bureau caught another bank cheating its customers and again has secured millions in refunds to said customers. This time it's Citizens Bank skimming off the top of customers'...Show More Summary
If you live with consumer debt, you are not alone. According to U.S. Federal Reserve data U.S. households have on average $15,863 in credit card debt and $33,090 in student loans, while the Consumer Financial Protection Bureau reports that a full 52 percent of credit bureau filings are for medical debt. On [...]
To protect yourself from fraud and just review your overall financial health, it’s important to check your credit regularly. You want to do it at least once a year, but don’t just check with one bureau. There are three main credit bureaus (TransUnion, Equifax and Experian), and your credit details can vary at each one. Read more...
Citigroup Inc., the third-largest U.S. bank by assets, is being investigated by the Consumer Financial Protection Bureau over its student-loan servicing practices, a person with direct knowledge of... To view the full story, click the title link.
Earlier this month, Discover Bank and affiliates was ordered to refund $16 million dollars to customers and fined $2.5 million dollars by the Consumer Financial Protection Bureau (CFPB), a federal agency dedicated to protecting consumers. The reasons for the ruling was illegal private student loan servicing practices ranging from misprints on [...]
While the Consumer Financial Protection Bureau (CFPB) may have thrown the real estate industry a bone by extending the effective date of the TILA-RESPA Integrated Disclosures (TRID) rule to Oct. 3, the clock is ticking on the time everyone has left to prepare to comply with the sweeping mortgage regulation and related changes to real estate closings...
This week, the Consumer Financial Protection Bureau celebrates its fourth anniversary of protecting consumers from harmful practices and shady characters in the financial sector. But instead of buying the regulatory arm a big ol’ birthday...Show More Summary
The Consumer Financial Protection Bureau (CFPB), created when Congress enacted the Dodd-Frank financial regulations in 2010, is an agency that does the opposite of what it name implies, and two federal lawmakers from Texas have introduced legislation to eliminate the agency, HousingWire reported yesterday. Show More Summary
Discover Financial Services will refund $16 million to its customers and has been fined $2.5 million penalty. Evidently, the organization engaged in illegal student loan practices. The Consumer Financial Protection Bureau (CFPB) has ordered Discover to fork out a total of $18.5 million over claims that the company abused student loans. Show More Summary
Discover Financial Services agreed to pay at least $18.5 million for allegedly cheating more than 100,000 borrowers with private student loans, the federal Consumer Financial Protection Bureau said Wednesday. The regulator alleged that...Show More Summary