Enforcement actions

Trump's DOJ takes same hard line as Obama's in Wells probe

04/10/17

Banks may be hoping for a friendlier enforcement environment under the Trump administration, but legal experts suggest a lighter touch will probably not extend to Wells Fargo.

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More companies challenging CFPB enforcement actions

03/31/17

The Consumer Financial Protection Bureau's unblemished track record regarding enforcement actions came to an end in 2016 as more companies began fighting back.

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CFPB's Cordray defends agency’s enforcement actions

03/31/17

In a speech, Consumer Financial Protection Bureau Director Richard Cordray said the agency enforces “with the principle of equal justice” so enforcement actions don’t seem random.

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Wells Fargo to pay $110M to settle fake-accounts lawsuit

03/28/17

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts.

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CFPB fines Experian $3M, alleges consumer deception

03/23/17

The Consumer Financial Protection Bureau said Experian sold consumers an "educational" credit score and falsely claimed in advertisements that the score was used by lenders to make credit decisions.

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Deutsche Bank said to face regulatory fines over currency trades

03/21/17

The German lender says that the Justice Department closed a criminal inquiry into its currency-trading activities without action, but regulators are said to be in the final stages of their own reviews of that conduct to determine if any fines are in order.

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Judge dismisses CFPB case against payment processor

03/17/17

A district court judge on Friday dealt a blow to the Consumer Financial Protection Bureau by saying the agency failed to present enough facts in its case against Intercept Corp.

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CFPB fines Nationstar $1.75M for HMDA violations

03/15/17

Nationstar Mortgage agreed on Wednesday to pay $1.75 million to the Consumer Financial Protection Bureau for failing to accurately report home mortgage data that is used to identify discrimination.

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In new D.C., resisting your regulator is an easier call

03/02/17

With the new administration and eventual new leadership of the regulatory agencies, banks’ calculus that agreeing to consent orders is usually the right course is potentially changing.

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SunTrust probed over mutual fund sales

02/27/17

The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.

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