By
Adrianne Appel2024-06-20T17:09:00
Freedom Mortgage Corp. (FM) would have to pay a $3.95 million fine and carry out regular auditing and testing of its loan data under a proposed order by the Consumer Financial Protection Bureau (CFPB).
FM submitted “error-riddled” mortgage loan data to federal regulators after being sued last year by the CFPB for similar failings. Additionally the company violated the Home Mortgage Disclosure Act (HMDA) and a 2019 order, the agency announced a press release Tuesday.
“Freedom Mortgage is a repeat offender that has ignored requirements to submit accurate data that help federal regulators maintain a fair home lending market,” said Rohit Chopra, CFPB director, in the release.
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A Berkshire Hathaway unit that is a major lender to people buying mobile homes intentionally failed to qualify borrowers, the Consumer Financial Protection Bureau alleged in a complaint. As a result, many families ultimately lost their homes and sank into debt, echoing a series of events that helped power the ...
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Credit Repair Cloud and its chief executive will pay $3 million in combined penalties and put in place significant compliance measures over illegally charging customers, according to the Consumer Financial Protection Bureau.
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The Consumer Financial Protection Bureau passed a new rule requiring nonbank financial companies to register consumer protection orders filed against them by other federal agencies, courts, or states.
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Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
2025-10-23T20:07:00Z By Oscar Gonzalez
The founder of crypto exchange Binance, Changpeng Zhao, received a pardon from President Donald Trump. This pardon comes almost two years after Zhao signed a plea agreement and was sentenced to a four-month prison sentence.
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