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Kansas Attorney General Intervenes In Investigation Of Storm-Related Natural Gas Price Spike - Consumer Protection
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FTC Issues New Policy Statement Advancing The Goal Of Open Repair Markets - Consumer Protection
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CFPB Bites of the Month - July Top 10 | Hudson Cook, LLP
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The CFPB has issued its 24th Supervisory Highlights, sharing observations and findings from examinations in the areas of auto servicing, consumer reporting, debt collection, deposits, fair lending, mortgage origination, mortgage servicing, private education loan origination, payday lending, and student loan servicing.
The CFPB issues Supervisory Highlights “to help institutions and the general public better understand how the Bureau examines institutions for compliance with Federal consumer financial law.” The Summer 2021 report includes highlights from examinations that were completed from January 1, 2020 to December 31, 2020, but excludes pandemic-related highlights, which the CFPB covered in its 23rd issue. The primary findings in the Summer 2021 report include:
CFPB supervisory highlights showcase wide range of violations
The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting legal violations from the agency’s 2020 examinations. The agency issued $124 million in remediation and civil money penalties as a result of its 2020 enforcement actions.
“Today’s release of Supervisory Highlights reinforces the importance of the Bureau’s supervisory work, including during the COVID-19 pandemic, to find and correct systemic problems that hurt consumers,” said CFPB Acting Director Dave Uejio. “The actions we took in 2020 mitigated some of that harm, but consumers are still struggling, and we will stay vigilant.”
The bureau identified four “particularly concerning” findings from its report, including that consumer reporting companies accepted consumer data from unreliable furnishers, examiners found redlining, examiners found foreclosure issues, and student loan servicers misled consumers about Public Se