State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.
The Consumer Financial Protection Bureau sued four online tribal lenders on Thursday for illegally collecting debts in 17 states where they are prohibited by state usury or licensing laws.
Financial services companies and groups are increasingly willing to take the regulatory regime to court in an effort to fight back — and so far, they appear to be succeeding.
The Consumer Financial Protection Bureau ordered an auto loan servicer on Wednesday to pay $2.4 million for failing to live up to the terms of a 2015 consent order.
Ocwen Financial and its subsidiaries faced a slew of accusations from federal and state regulators on Thursday, which raised questions about whether the firm could survive.
The Consumer Financial Protection Bureau filed a lawsuit Monday against an Ohio law firm for allegedly engaging in illegal debt collection practices by failing to determine whether millions of consumers actually owed a debt.
