CFPB Tag

Ocwen Mortgage Massachusetts

Ocwen Ordered to Cease Mortgage Operations in Massachusetts

Ocwen, one of the largest mortgage servicers in the country, faces regulatory action from both the state and federal levels for “failing borrowers at every stage of the mortgage servicing process,” including mishandling mortgage accounts and botching loan modifications. The federal Consumer Financial Protection Bureau sued...

CFPB Acts to Stop Robo-signed Chase Credit Card Documents

The federal Consumer Financial Protection Bureau entered into a settlement with JPMorgan Chase for robo-signing of affidavits filed by Chase in debt-collection lawsuits. The investigation into Chase’s collection practices stems from public revelations about robo-signing by a Chase whistleblower a few years ago. Chase signed affidavits...

Consumer Financial Complaints Now Online Through CFPB

The Consumer Financial Protection Bureau has made consumer complaints publicly available to search. The database cover the major issues in the consumer financial marketplace, including debt collection, inaccurate credit reports, and foreclosure. The complaints show the seriousness of the violations that average people deal with every day....

Time for Your Yearly (Credit) Checkup

The Consumer Federal Protection Bureau advises consumers in a recent notice to get their yearly credit checkup. Many people are not aware that under federal law they can obtain their credit reports for free once per year. You can obtain your own credit reports by calling...

Steps Seniors Can Take With Harassing Debt Collectors

Senior citizens have become a growing target for debt collectors. They are bullying and harassing senior citizens about medical bills, debts of deceased family members, and attempting to garnish their federal benefits. According to the Consumer Financial Protection Bureau, debt collectors are reportedly senior citizens’...

CFPB Issues New Guidelines for Loan Modification Procedures

The Consumer Financial Protection Bureau recently issued new regulations governing loan modification procedures, which went into effect on January 10, 2014. With few exceptions, these rules must be complied with by all mortgage servicers. And homeowners now have a clear ability to sue their servicers...

Consumer Protection Bureau To Focus On Unfair Debt-Collection Practices

The federal Consumer Financial Protection Bureau has issued releases stating that it intends to pursue creditors and debt collectors for any unfair and deceptive actions that they take against consumers.  In the first bulletin, the CFPB clarifies that statements that are “misleading” are prohibited, so long...