On January 11, 2023, the Third Circuit held that attempting to collect on a default judgment did not constitute using "'false, deceptive, or misleading' representations in connection with collecting the judgment" if the default judgment was later vacated. Lowe v. FBCS, Inc., No. 21-3307, 2023 WL 154970, at *1 (3rd Cir. Jan. 11, 2023).
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today approved the merger of Bank of the West, San Francisco, into BMO Harris Bank, National Association, Chicago.
Today, the Consumer Financial Protection Bureau (CFPB) is releasing our updated Mortgage Servicing Examination Procedures, providing transparency to stakeholders about how we do our work.
Recently, the CFPB took action against Wells Fargo Bank for breaking federal consumer protection laws that apply to financial products, including auto loans, mortgages, and bank accounts. Wells Fargo is required to pay more than $2 billion to customers who were harmed, plus a $1.7 billion fine that goes to the victims’ relief fund.
The Consumer Financial Protection Bureau continues to issue enforcement actions, research reports and bulletins on a regular basis. Here are a few of the bureau’s updates you should know about this week, as well as a notice of proposed rulemaking from the Federal Communications Commission regarding data breach reporting:
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