Enforcement actions

CFPB launches investigation of Quicken Loans real estate affiliate

07/16/20

The Detroit lender disclosed that the consumer bureau had sent a civil investigative demand to Rocket Homes Real Estate for potential violations of the Real Estate Settlement Procedures Act.

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CFPB slaps Chicago mortgage lender with redlining lawsuit

07/15/20

The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans.

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CFPB declares most agency rules still valid after high court decision

07/07/20

The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.

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Banks should offer their own form of reparations

06/16/20

As governments explore whether to compensate African Americans for centuries of racism, financial institutions need to do their part to redress victims of persistent redlining.

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Wells Fargo struggling to stay under asset cap amid pandemic, CEO says

05/29/20

Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal.

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CFPB official will be recused from agency's suit against Fifth Third

03/12/20

Acting Deputy Director Leonard Chanin formerly was a deputy general counsel at the Cincinnati bank that is now in the bureau's crosshairs for allegedly opening unauthorized accounts.

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CFPB chief takes heat from Senate Dems for regulators' response to virus

03/10/20

Kathy Kraninger was grilled about whether her agency and others were doing enough to cushion consumers from the economic blow of the coronavirus crisis.

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Democrats beat up on Wells Fargo CEO. GOP says it's time to move on.

03/10/20

House Democrats maintained their criticism of the bank during Charlie Scharf's first hearing, but Republicans suggested it is on better footing now that many top leaders have been replaced.

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Next round of Wells Fargo hearings will shine spotlight on board's role

03/08/20

The House Financial Services Committee will question two of Wells’ board members, raising public scrutiny to a new level for bank directors.

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CFPB proposes legislation to pay whistleblowers who tip off agency

03/06/20

The agency's effort to engage with lawmakers on a whistleblower award program is one of three initiatives the bureau announced to advance its strategy of preventing consumer harm.

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