supervisory action

CFPB supervisory report highlights violations in debt collection, consumer reporting, overdraft practices, mortgage origination, and fair lending

By Ballard CFS Group on March 13, 2015

Posted in CFPB General, Regulatory and Enforcement

In its Winter 2015 Supervisory Highlights, which covers supervision work generally completed between July and December 2014, the CFPB highlights legal violations resolved using non-public supervisory actions involving debt collection, consumer reporting, overdraft practices, mortgage origination, and fair lending.

The report indicates that recent supervisory resolutions in the areas of payday lending, mortgage servicing, and mortgage origination resulted in remediation of approximately $19.4 million to more than 92,000 consumers.… Continue Reading

Supervisory or enforcement action: Deputy Director Antonakes explains how the CFPB decides

By Barbara S. Mishkin on February 23, 2015

Posted in CFPB Enforcement, CFPB Exams, Regulatory and Enforcement

In his prepared remarks for an appearance last week at the Exchequer Club, CFPB Deputy Director Steven Antonakes discussed the CFPB’s risk-based approach to supervision. (The Exchequer Club’s members include senior professionals from trade associations, federal regulatory agencies, law firms, congressional committees and national press.)

Mr. Antonakes commented on why “the traditional approach to supervision wouldn’t work at the Bureau.” … Continue Reading