Tag Archives: Consumer Financial Protection Act

The Bureau has ordered the bank to pay $12 million into the CFPB’s victims relief fund for falsifying forms about mortgage applicants and reporting incorrect information to federal regulators.

"The higher interest rate environment had profound effects on the mortgage market in 2022, with borrowers paying much more in monthly payments,” said CFPB Director Rohit Chopra. Click through to read more on the CFPB’s analysis of 2022 HMDA data.

The Bureau has issued a consent order against ACI, who will pay a $25 million penalty for practices that negatively impacted nearly 500,000 homeowners.

CFPB has drawn up a policy statement that provides an analytical framework to assist federal and state agencies in holding companies accountable when in violation of the law.

Under a new order from the CFPB, loans reportable under the Home Mortgage Disclosure Act will not need to be reported under the new small business lending rule.

This coming week, Rohit Chopra, Director of the CFPB, will provide an update to the Senate Banking Committee on the latest actions the Bureau has taken to protect consumers from financial misconduct.

Settlement with mortgage lender for $22 million-plus marks the first redlining settlement that the CFPB and DOJ has reached with a non-bank entity.