The bureau says that making these stories public empowers consumers and informs the bureau, the public and financial institutions.
Why would a credit union want to establish complaint tracking and management processes? The short answer is: “Because regulators are looking at your complaints.” Also in today’s Anthem: Legal Briefs, and the Question of the Week: “If a member wants to purchase a cashier’s check for $9,975 with a service fee of $50 and pays in cash, is the credit union required to file a Currency Transaction Report?”
The CFPB has cracked the whip on a Utah mortgage company which allegedly incentivized loan officers for steering consumers into high-interest loans.
Mortgage Broker Targeting U.S. Service Members Will Pay Record $7.5 Million to Settle Alleged Telemarketing Violations
The FTC cracked down on a mortgage broker by imposing a multi-million dollar fine. As today’s Compliance Update details, Mortgage Investors Corporation allegedly violated the “do not call” list and misrepresented terms of its loan products.
CUNAâ€™s regulatory update includes details about interchange efforts, plus a preview of the NCUA Board meeting.