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Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
On July 1, the CFPB announced that it terminated a consent order against a mortgage servicer after finding that the company had “fulfilled several obligations,” including payment of a $2 million civil money penalty and $3...more
On May 15, the CFPB issued an amended consent order against a fintech company for alleged violations of various consumer financial protection laws. As previously covered by InfoBytes, the CFPB sued the fintech company in...more
On January 17, 2025, the CFPB issued a consent order against a large consumer reporting agency for failing to properly investigate consumer disputes concerning inaccurate information on consumers’ credit reports. The CFPB...more
In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more
This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more