Tag Archives: Rohit Chopra

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 Bureau has issued a new analysis on state Community Reinvestment Act laws, examining affirmative lending, service delivery, and investment obligations by mortgage companies and deposit-taking institutions. Read the details after the link.

Customers will be delighted to know that the CFPB has their back and is helping large banks stop charging junk fees for basic customer service.

The CFPB and FTC have issued a joint consent order requiring the credit reporting conglomerate to pay $23 million in fines for tenant screening and security freeze failures.

"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.

Proposals are being considered by the Bureau to help end coercive debt collection tactics, clean up inaccurate data, and improve credit score predictiveness by erasing medical bills from Americans’ credit reports.

In an effort to make the intersection of fair lending and technology a priority, the CFPB has issued guidance on how lenders must issue consumers accurate and specific reasons for credit denials when utilizing artificial intelligence.

The nationwide conglomerate has agreed to a settlement with the CFPB for violating the Telemarketing Sales Rule by collecting illegal advance fees for credit repair services.

Discover the latest findings from Bureau examiners, shedding light on conduct that breaches federal regulations, specifically targeting abusive practices within consumer financial services.

A new Bureau analysis details the popularity of employer-driven debt, including the challenges workers and consumers face when they become indebted to an employer or an employer’s affiliate as a condition of employment.