Search Results: Enforcement Actions

The CFPB Targets Lender's Credit Card Division With More Than $200MM In Penalties

The Consumer Financial Protection Bureau (CFPB) has set its sights on debt collection practices again.  In April, we wrote about the CFPB’s $63 million settlement with a mortgage servicer, Green Tree Mortgage, in part for Green Tree’s alleged treatment of mortgage debt.  On July 8, 2015, the CFPB once again demonstrated it was…

Read More

Goodwin’s Consumer Finance Enforcement Practice Launches Industry’s First Enforcement Tracking Blog

Goodwin Procter’s Consumer Financial Services Enforcement practice today launched Consumer Finance Enforcement Watch, a first-of-its-kind tracking blog to monitor state and federal consumer finance enforcement actions. The blog provides real-time reporting of publicly available enforcement activity taken against consumer financial service companies in key areas, including: mortgage lending and servicing;…

Read More

Mortgage Servicer Agrees to Pay More Than $60 million for Alleged “Abusive” Collection Practices

The mortgage servicing industry remains under scrutiny, as evidenced by the recent joint enforcement action against Green Tree Servicing, LLC by the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC).   In a joint complaint filed in Minnesota, the regulators allege that Green Tree, through its collection activities…

Read More

HUD’s New Year Resolution? More Enforcement Actions Against FHA Lenders

Recent indications from the Department of Housing and Urban Development (HUD), HUD’s Office of Inspector General (OIG), and quarterly SEC filings by lenders of FHA mortgages, strongly suggest that HUD’s aggressive enforcement actions against FHA lenders over the past few years are likely to continue in the New Year.  Lenders…

Read More

12