supervisory highlights

We look at the practices found to be unlawful by CFPB examiners in these markets, discuss what the findings signal for future scrutiny of these markets by the “new CFPB”, and share practical takeaways for companies operating in these markets.  Issues highlighted in our conversation include the CFPB’s findings regarding “unreliable furnishers,” furnisher handling of

We look at the practices found to be unlawful by CFPB examiners.  In addition to “as low as” rate advertising by providers of private student loans that did not disclose rates were dependent on borrower creditworthiness, we discuss servicer practices involving: providing inaccurate information about eligibility for the Public Service Loan Forgiveness program, automatic placement

We discuss the practices found to be unlawful by CFPB examiners in the areas of deposits, auto servicing, and payday lending, identify practical takeaways for avoiding criticism by the “new CFPB,” and share our thoughts on what the findings signal for future scrutiny in these areas by the “new CFPB.”

Ballard Spahr Senior Counsel Alan

The CFPB has released the Summer 2021 edition of its Supervisory Highlights.  The report, which contains 48 pages of supervisory observations, discusses the Bureau’s examinations in the areas of auto servicing, consumer reporting, debt collection, deposits, fair lending, mortgage origination and servicing, private student loans, payday lending, and student loan servicing that were completed

The CFPB has released the Winter 2020 edition of its Supervisory Highlights.  The report discusses the Bureau’s examinations in the areas of debt collection, mortgage servicing, payday lending, and student loan servicing that were completed between April 2019 and August 2019.

Key findings include the following:

Debt collection. One or more debt collectors

The CFPB has released the Summer 2019 edition of its Supervisory Highlights.  The report discusses the Bureau’s examination findings in the areas of automobile loan originations, credit card account management, debt collection, furnishing, and mortgage originations.

Key findings include the following:

Auto loan originations.  Auto lenders were found to have engaged in an abusive

Mortgage servicing continues to be a CFPB supervisory focus.  In this week’s podcast, we take a close look at the CFPB’s findings involving late fees, PMI cancellation requests, handling of loss mitigation applications, and notices to successors of deceased reverse mortgage borrowers regarding  foreclosure avoidance, share observations on what the findings indicate about the CPPB’s

The CFPB’s Winter 2019 Supervisory Highlights discusses the Bureau’s examination findings in the areas of automobile loan servicing, deposits, mortgage loan servicing, and remittances.  We discussed the Bureau’s auto loan servicing findings in a separate blog post.  In this blog post, we focus on the Bureau’s additional findings.

Although issued under Director Kraninger’s leadership,

Yesterday, the CFPB released the Winter 2019 edition of its Supervisory Highlights.  The report discusses the Bureau’s examination findings in the areas of automobile loan servicing, deposits, mortgage loan servicing, and remittances.  In this blog post, we focus on the Bureau’s findings relating to auto loan servicing.  (We will discuss the Bureau’s other findings

In what seems to be a response to the Government Accountability Office’s (“GAO”) determination that the Consumer Financial Protection Bureau’s indirect auto finance bulletin (the “Bulletin”) was a rule subject to the Congressional Review Act (“CRA”) and a rebuke to the Bureau’s prior approach of “rulemaking by enforcement,” the Board of Governors of the Federal