News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Civil Monetary Penalty

Orrick, Herrington & Sutcliffe LLP

CFPB terminates its consent order with a credit union

On July 18, the CFPB terminated a consent order against a credit union after confirming that the credit union fulfilled “certain obligations” under the original consent order, including paying a $1.5 million civil money...more

Goodwin

CFPB Terminates Consent Order Against Credit Union

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On July 21, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had terminated its October 2024 consent order with a Florida-based credit union....more

Sheppard Mullin Richter & Hampton LLP

CFPB Terminates Two Consent Orders Addressing Overdraft Fees and Mortgage Servicing Violations

On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer. Both orders stemmed from 2024 enforcement actions and involved alleged...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates consent order against mortgage servicer

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

Sheppard Mullin Richter & Hampton LLP

Illinois District Court Denies Motion to Vacate CFPB Redlining Settlement

On June 12, the U.S. District Court for the Northern District of Illinois denied a motion to vacate a November 2024 stipulated final judgement and order requiring a Chicago-based mortgage broker to pay a $105,000 civil money...more

Holland & Knight LLP

CFPB Launches Additional Rulemaking, Procedural and Administrative Changes

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The CFPB has continued to announce additional procedural, rulemaking and administrative changes, with the latest being three postings to the Federal Register on June 18, 2025: 1) a final rule rescinding the Procedure Relating...more

Orrick, Herrington & Sutcliffe LLP

CFPB proposes to eliminate ability to allocate civil money penalties to fund financial literacy programs

On June 18, the CFPB published a proposed rule in the Federal Register amending its 2013 rule implementing the CFPA provision establishing the Consumer Financial Civil Penalty Fund. The proposed rule rescinds aspects of the...more

Orrick, Herrington & Sutcliffe LLP

New York attorney general obtains $250K in CFPB’s dropped case

On June 16, the New York attorney general settled a civil action against a remittance provider in a case dropped by the CFPB earlier this year, which as previously covered by InfoBytes, left the State of New York as the sole...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes to Eliminate Education Allocations from Civil Penalty Fund

On June 18, the CFPB published a proposed rule that would rescind its authority to use money from the Civil Penalty Fund for consumer education and financial literacy initiatives. The proposed changes would amend the CFPB’s...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses redlining case after asserting payments were made

On May 21, the CFPB and DOJ successfully filed a motion to dismiss with prejudice a case in the U.S. District Court for the Western District of Tennessee after noting the defendant paid its penalties. The dismissal ended a...more

Ballard Spahr LLP

Trustmark Redlining Consent Order Terminated

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A federal district court recently granted the unopposed motion of the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) to terminate their October 2021 consent order with Trustmark National Bank...more

Orrick, Herrington & Sutcliffe LLP

CFPB reduces civil money penalty by nearly 98 percent against fintech

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

Orrick, Herrington & Sutcliffe LLP

District court approves CFPB’s $43M penalty against company owner

On May 1, the U.S. District Court for the Northern District of Illinois approved the CFPB’s request for restitution and a civil monetary penalty against a defendant for violations of the CFPA and the Telemarketing Sales Rule....more

Orrick, Herrington & Sutcliffe LLP

FDIC orders state bank to pay $1.375B

On April 18, the FDIC announced that it amended its 2023 consent order against an insured state nonmember bank, as well as issued a new order for restitution and order to pay, concluding the bank recklessly engaged in unsafe...more

Orrick, Herrington & Sutcliffe LLP

CFPB seeks to vacate redlining settlement and refund civil money penalty to firm

On March 26, the CFPB, in its first press release in over 50 days, announced its intention to seek to vacate a redlining settlement previously imposed on a nonbank retail-mortgage creditor and broker based in Chicago. As...more

Alston & Bird

New York State Proposes Consumer Protection Reforms through FAIR Business Practices Act

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What Happened? On March 13, New York state legislators introduced new legislation called the Fostering Affordability and Integrity Through Reasonable (FAIR) Business Practices Act. The bill, supported by New York Attorney...more

Orrick, Herrington & Sutcliffe LLP

State attorneys general file second amicus brief challenging CFPB pause

On February 21, a group of 23 state attorneys general (AGs) filed an amicus brief in support of the union representing CFPB workers in the union’s request for a preliminary injunction challenging the recent efforts to halt...more

Orrick, Herrington & Sutcliffe LLP

CFPB, OCC update their maximum civil money penalties

Recently, the CFPB and the OCC announced changes to their maximum civil money penalties published in the Federal Register to adjust for inflation as federal law requires. This year, the OCC’s changes affect penalties for...more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Credit Reporting Agency to Pay $15 Million for Mishandling Consumer Disputes

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

Ballard Spahr LLP

CFPB Adjusts Various Penalty Amounts Based on Inflation (UPDATED)

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The CFPB recently issued a rule to adjust maximum penalty amounts under various statutes that it administers. Included among the adjustments are the amounts for the three tiers of civil money penalties that the CFPB may...more

Goodwin

CFPB Permanently Bans Student Loan Servicer

Goodwin on

On December 4, 2024, the CFPB announced that it entered into a proposed stip​​ulated judgment with a student loan servicer and its owner, resolving allegations that the student loan servicer violated the Telemarketing Sales...more

Hudson Cook, LLP

CFPB Issues Order Against a Private Dispute Resolution Platform

Hudson Cook, LLP on

On October 10, 2024, the CFPB announced that it issued a stipulation and consent order against the Company to resolve allegations that the Company violated the CFPA....more

Goodwin

CFPB Enters into $28 Million Consent Order Resolving Allegations of Consumer Credit Misreporting

Goodwin on

​On September 11, the CFPB announced that it had entered into a consent order with a national bank resolving allegations that the bank reported inaccurate information to consumer reporting companies.  The bank agreed to pay...more

Goodwin

CFPB Permanently Bans Large Student Loan Servicer from Market and Orders Redress of $120 Million

Goodwin on

On September 12, 2024, the CFPB announced that it entered into a stipulated proposed order with a large student loan servicer resolving allegations that the servicer forced borrowers into costly repayment options.​ Under the...more

Hudson Cook, LLP

National Bank Reaches Settlement with the CFPB for Alleged Credit Reporting Violations

Hudson Cook, LLP on

On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher...more

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