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Tag Archives: Consumer Financial Protection Bureau

CFPB Report Finds 26 Million American Adults Have No Credit History

According to the CFPB's announcement, consumers with limited credit histories can be placed in two groups – "credit invisible," which means the consumer has no credit report, or "unscored," which means the consumer has some credit history but not enough to generate a credit score, or else the information is "stale" and out of date.

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CFPB Penalizes Mortgage Lender $250K Over Deceptive Advertising

In a press statement, CFPB Director spoke out against such practices, saying, “Deceptive advertising has no place in the mortgage marketplace, and the Consumer Bureau will continue to take action against companies that mislead consumers with false claims of government affiliation."

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Black Knight and Five Star Release Study on CFPB Consumer Complaints

Now, in a report to be released today titled "Analysis and Study of CFPB Consumer Complaint Data Related to Mortgage Servicing Activities,” Black Knight Financial Services (BKFS) and the Five Star Institute (FSI) seek to provide context and insight to complaints received by the CFPB by comparing the CFPB's two predominant mortgage complaint categories, servicing and default, with loan trends.

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Fed OIG’s Report on Alleged Discrimination Within CFPB Made Public

The Federal Reserve Inspector General made his findings of the investigation of discrimination in the Consumer Financial Protection Bureau (CFPB) public Monday, stating the CFPB has made progress in combatting discrimination, but still was work to do. Last week, legislation was introduced to replace the director of CFPB with a five-person committee to combat the alleged overreach of the Bureau, according to House Financial Services Committee (HFSC) Chairman Jeb Hensarling (R-Texas).

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Neugebauer Introduces CFPB Reform Bill

U.S. Representative Randy Neugebauer (R-Texas) introduced a bill this week intended to replace the director of the Consumer Financial Protection Bureau (CFPB) with a five-member commission. He announced his plan to support legislation in his testimony at House Financial Services Committee (HFSC) hearing held on Tuesday, March 3.

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