Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector. Its jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors and other financial companies operating in the United States.The CFPB's creation was authorized by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the financial crisis of 2007–08 and the subsequent Great Recession.
Posts about Consumer Financial Protection Bureau
  • Equifax proves case against forced arbitration

    … those affected by the breach a free, one-year credit monitoring service called TrustedID Premier, which will watch credit reports for suspicious activity, lock and unlock Equifax credit reports, scan the internet for Social Security numbers, and add insurance for identity theft. But the service includes a forced arbitration clause, which pushes all…

    Lamberton Law Firm, LLC- 15 readers -
  • American Advisors Group Fraud Post (Reverse Mortgage Fraud)

    … On New Years day, we posted an extensive piece on Reverse Mortgage Fraud. In that post we listed three companies that were recently the target of Consumer Financial Protection Bureau (CFPB). Those companies are American Advisors Group, Reverse Mortgage Solutions and Aegean Financial. Aegean also goes by the name Jubilados Financial. Recently we…

    Due Diligence- 25 readers -
  • Ocwen’s Newest Lie? (Ocwen Whistleblower Post)

    … Merriam Webster defines the term “spin doctor” as “a person responsible for ensuring that others interpret an event from a particular point of view.” Usually when we think of spin doctors we think of politicians. Both major political parties seem to have elevated “spinning” to an art form. The political types have nothing on Wall Street, however…

    Due Diligence- 22 readers -
  • Reverse Mortgages – New Class Action Opportunity

    … are guaranteed by the Federal Housing Administration (FHA). Others like Fannie Mae also have similar guaranty programs. Because these products have federal backing, issuers like AAG, RMS and Aegean must certify their loans are I compliance with all HUD and FHA guidelines. Unless the housing market really crashes, taxpayers probably won’t have…

    Due Diligence- 12 readers -
  • CFPB to Examine Discriminatory Lending Practices (Whistleblower Post)

    … CFPB to Examine Discriminatory Lending Practices (Whistleblower Post) October 28, 2016 by Brian Mahany CFBP’s Investigation into Mortgage Company Discriminatory Lending Practices Presents New Whistleblower Opportunities The Consumer Financial Protection Bureau (CFPB) sent warning notices to 44 mortgage companies and lenders warning them…

    Due Diligence- 23 readers -
  • Morning Consult

    … to Morning Consult. “Enforcement staff examines each tip to identify those with high-quality information that warrant the additional allocation of Commission resources.” In the banking world, the Consumer Financial Protection Bureau may be the agency that is best equipped to handle whistleblower complaints. The CFPB first heard about the Wells Fargo…

    Due Diligence- 25 readers -
  • For Banks, It’s All About the Money – Whistleblower Post

    … responsibility for any instances where customers may have received a product that they did not request.” What “unwanted products” did these customers receive? The Consumer Financial Protection Bureau (CFPB) says as many as 1.5 million deposit accounts. Wells Fargo employees also submitted applications to open 565,433 credit cards and all without…

    Due Diligence- 27 readers -
  • Profile on the Consumer Financial Protection Bureau

    … Profile on the Consumer Financial Protection Bureau Posted on Aug 29, 2016 By Carla Handy August 29, 2016 by Carla Handy Senator Elizabeth Warren is famously known for her work in consumer protection. Before being elected to the United States Senate in 2012, Senator Warren was responsible for founding the Consumer Financial Protection Bureau…

    Bond and Botes- 29 readers -
  • Tough New Rules For Debt Collectors

    … Tough New Rules For Debt Collectors Posted on Aug 08, 2016 By Don Lawson August 8, 2016 by Don Lawson For the first time in nearly forty years, the federal government is preparing to strengthen the rules that regulate how consumer debts are collected. On Thursday, the Consumer Financial Protection Bureau (CFPB) announced its intention…

    Bond and Botes- 21 readers -
  • CFPB Takes New Steps To Protect Mortgage Borrowers

    …. The new rule will clarify and revise the 2013 rules. Struggling Homeowners Should Be Treated Fairly The new rule is primarily intended to ensure that homeowners and those struggling to pay their mortgage debt are treated fairly by mortgage servicers. Mortgage servicers are entities that handle various aspects of a consumer’s mortgage account…

    Ed Woods/ Bond and Botes- 20 readers -
  • Progress in the Fight Against Payday Lenders

    … Progress in the Fight Against Payday Lenders Posted on Jul 25, 2016 By Joshua Lawhorn July 25, 2016 by Joshua Lawhorn In May, the Consumer Financial Protection Bureau filed suit against Mississippi based All American Check Cashing for engaging in deceptive practices. While the suit is still ongoing, progress has been made. All American Check…

    Joshua Lawhorn/ Bond and Botes- 28 readers -
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