The nation’s largest nonbank mortgage loan servicer, Ocwen Financial Corp., and its subsidiary, Ocwen Loan Servicing, will provide $2 billion in principal reduction to “underwater” borrowers as part of a…
New research by the U.S. Consumer Financial Protection Bureau finds that arbitration clauses are commonly used by large banks in credit card and checking account agreements, but that roughly nine out of 10 dispute-resolution options prevent consumers from participating in class actions.
SML Corp., better known as Sallie Mae, is the nation’s largest servicer of federally subsidized student loans. But it is targeted by federal agencies for possible violations of consumer protection laws.
How much of a fee and whether minorities are getting hit with bigger fees than other buyers is very much in debate — and an issue being closely examined by the U.S. Consumer Financial Protection Bureau.
The two-year-old U.S. Consumer Financial Protection Bureau has taken its first enforcement action against a payday lender by forcing Cash America International to refund consumers for robo-signing court documents in debt collection lawsuits.
New so-called “Know Before You Owe” forms are replacing the better known “good-faith estimates” and other required disclosures before and after closing on a mortgage.
The U.S. Consumer Financial Protection Bureau is looking into whether credit card issuers are misleading customers when they sign up for these programs. The result could be new rules to ensure clarity and transparency.
The Justice Department is partnering with the Consumer Financial Protection Bureau to investigate certain transactions involving auto dealers marking up the interest rate on car loans they arrange through lenders.
Many consumers have raised concerns “about the high cost of payday loans, not being able to repay the payday loan while still having enough money left for other expenses, and the debt collection practices they encounter if they can’t repay the loan,” the CFPB said in a statement Wednesday.
SML Corp., better known as Sallie Mae, is targeted by federal agencies for possible violations of consumer protection laws, according to the company’s latest quarterly report. Sallie Mae is the nation’s largest servicer of federally subsidized student loans.