Mortgage Company That Entered into CFPB Consent Order Moves to Dismiss Class Action Claims

By | CFPB Monitor | October 30, 2014
Mortgage Company That Entered into CFPB Consent Order Moves to Dismiss Class Action Claims

Earlier this week, Castle & Cooke Mortgage, LLC, the mortgage company that entered into a consent order with the CFPB in November 2013 to settle charges that it violated the Regulation Z loan originator compensation rule (“LO Compensation Rule”), filed a motion to dismiss three counts of the class action complaint filed against it in July 2014 in a California federal court by a consumer who received redress under the consent order.

CFPB Highlights Unlawful Practices Relating to Mortgage and Student Loan Servicing, Debt Collection, Electronic Fund Transfers and Consumer Reporting

By | CFPB Monitor | October 30, 2014
CFPB Highlights Unlawful Practices Relating to Mortgage and Student Loan Servicing, Debt Collection, Electronic Fund Transfers and Consumer Reporting

While mortgage and student loan servicing violations cited by the CFPB in its Fall 2014 Supervisory Highlights have grabbed the headlines, the report also includes noteworthy observations regarding the violations found by the CFPB in debt collection, electronic fund transfers and consumer reporting.