The CFPB has published a final rule in the Federal Register to adjust for inflation the civil penalties within its jurisdiction. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990 which, pursuant to a 2015 amendment, required federal agencies to adjust the civil penalties within their jurisdiction by July 1,
penalties
Court denies restitution sought by CFPB in lawsuit against biweekly mortgage payment companies
By Christopher J. Willis & James Kim on
Posted in CFPB Enforcement, CFPB Monitor
In another recent defeat for the CFPB, a California federal district court refused to award restitution sought by the CFPB in its lawsuit filed in May 2015 against two related companies offering a biweekly mortgage payment program and their individual owner. The CFPB’s complaint alleged that the defendants engaged in abusive and deceptive acts or…
CFPB issues interim final rule to adjust civil penalties for inflation
By Barbara S. Mishkin on
Posted in CFPB Enforcement, CFPB Monitor
The CFPB has published an interim final rule to adjust for inflation the civil penalties within its jurisdiction. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990 which, pursuant to a 2015 amendment, requires federal agencies to adjust the civil penalties within their jurisdiction by July 1, 2016 and then…