The Department of Justice, in close coordination with the Department of Education, announced today a new process for handling cases in which individuals seek to discharge their federal student loans in bankruptcy.
Mortgage rates dropped sharply last week following a series of economic reports that indicated inflation may finally be easing.
NCUA Chairman Todd Harper testified before the House Financial Services Committee Wednesday, a day after his testimony before the Senate Banking, Housing, and Urban Affairs Committee. CUNA submitted a letter for the record of the hearing, addressing several credit union priorities and expressing concerns over a recent NCUA study on credit union mortgage lending.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the first half of 2022. The report details key findings across consumer financial products and services, including how consumer reporting companies and data furnishers continued to violate the Fair Credit Reporting Act (FCRA) by failing to promptly address and update incorrect information on credit reports. Today’s report also highlights instances where mortgage servicers charged impermissible fees when homeowners went to make their mortgage payments.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) is taking action against Carrington Mortgage Services for deceptive acts or practices under the Consumer Financial Protection Act in connection with mortgage forbearances. The CFPB found that Carrington failed to implement many protections, provided to borrowers with federally backed mortgage loans who were experiencing financial hardship, during the COVID-19 public health emergency.
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