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Consumer protection agency goes after ‘repeat offenders’
The Hill· 3 days ago“Too often, financial firms treat penalties for illegal activity as the cost of doing business,” ...
Americans paid nearly $6,000 in junk fees to mortgage companies in one year. The federal government...
Market Watch· 6 days ago“Junk fees and excessive closing costs can drain down payments and push up monthly mortgage costs,”...
Mortgage 'junk fees' can add nearly $6,000 to the cost of buying a home. The Biden administration...
Morningstar· 6 days agoThe Consumer Financial Protection Bureau said Thursday it's launching a public inquiry into "junk fees" that the agency says are increasing mortgage closing costs. "Junk fees and excessive closing ...
Consumer watchdog creates corporate ‘repeat offender’ registry
The Hill· 3 days agoInitially proposed in December 2022, the new rule will require non-bank companies hit with local,...
CFPB launches inquiry into junk fees in mortgage closing costs
Retail Banker International via Yahoo Finance· 7 days agoThat is because they have to absorb the higher costs or pass them on to borrowers. “Junk fees and...
CFPB: Lenders Must Stop Hiding Unlawful Terms in Fine Print
PYMNTS.com· 2 days agoThe Consumer Financial Protection Bureau (CFPB) is warning businesses against hiding “unlawful or...
CFPB issues UDAAP guidance on contracts for consumer financial products and services | JD Supra
JD Supra· 2 days agoOn June 4, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a Consumer Financial Protection Circular 2024-03 (“Circular”) warning that...
CFPB Launches Public Inquiry into Rising Mortgage Closing Costs and ‘Junk Fees’
The National Law Review· 2 days agoThe Consumer Financial Protection Bureau (CFPB) has launched a public inquiry into rising mortgage closing costs, seeking to understand the reasons behind the increase, identify ...
CFPB to require nonbanks to register outside enforcement orders
Compliance Week· 3 days agoThe rule mandates nonbank financial companies register with the bureau when they become subject to a “written order imposing obligations based on violations of certain consumer protection laws ...
CFPB creates public database of nonbank repeat offenders - HousingWire
HousingWire· 3 days agoThe Consumer Financial Protection Bureau (CFPB) is creating a public database to identify nonbank...