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To your December 8th, the consumer Monetary Coverage Agency (CFPB) provided the new 25th version of their Supervisory Highlights report, which takes care of examinations completed in the initial 1 / 2 of 2021. This new CFPB stated towards abuses you to definitely occurred in other areas off bank card membership administration, commercial collection agency, places, reasonable financing, mortgage upkeep, payday credit, prepaid service levels, and you may remittance transmits.
The declaration signals that the CFPB continues to boost enforcement measures facing financial servicers. As the , brand new CFPB keeps prioritized mortgage maintenance supervision considering the raise in the consumers trying to get and receiving mortgage forbearance according to the CARES Play the role of a direct result this new COVID-19 pandemic. CFPB examiners unearthed that mortgage servicers unlawfully recharged consumers late fees and you can standard-relevant fees. Examiners discovered that home loan servicers failed to refund a few of the charges up until many months after. This new CFPB vowed to keep their strive to make sure all the financial servicers meet the resident security objections not as much as applicable consumer shelter rules. Continue reading “TILA together with talks of licensed mortgage loans just like the a sounding money one to is believed in order to follow new ATR requirements”