The CFPB announced that it entered into consent orders with three reverse mortgage companies to settle the CFPB’s allegations that the companies engaged in deceptive advertising in violation of the Mortgage Acts and Practices-Advertising Rule (Regulation N) and the Consumer Financial Protection Act.
The CFPB’s Ombudsman’s Office has issued its fifth annual report covering the Office’s activities during fiscal year 2016 (October 1, 2015 through September 30, 2016).
The CFPB issued a compliance bulletin on November 28, 2016 warning supervised companies about the potential compliance risks of production and sales incentives provided to employees and service providers.
Last Monday, the Consumer Financial Protection Bureau tried to shed light on employee-incentive plans like the one that recently pummeled Wells Fargo Bank.
In a recent case, the Central District of California held that the CFPB’s claims against a credit repair service under the Telemarketing Sales Rule (“TSR”) must meet Federal Rule of Civil Procedure 9(b)’s heightened pleading requirement.