Enforcement actions

Banks may be hoping for a friendlier enforcement environment under the Trump administration, but legal experts suggest a lighter touch will probably not extend to Wells Fargo.

The Consumer Financial Protection Bureau's unblemished track record regarding enforcement actions came to an end in 2016 as more companies began fighting back.

In a speech, Consumer Financial Protection Bureau Director Richard Cordray said the agency enforces “with the principle of equal justice” so enforcement actions don’t seem random.

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts.

The Consumer Financial Protection Bureau said Experian sold consumers an "educational" credit score and falsely claimed in advertisements that the score was used by lenders to make credit decisions.

The German lender says that the Justice Department closed a criminal inquiry into its currency-trading activities without action, but regulators are said to be in the final stages of their own reviews of that conduct to determine if any fines are in order.

A district court judge on Friday dealt a blow to the Consumer Financial Protection Bureau by saying the agency failed to present enough facts in its case against Intercept Corp.

Nationstar Mortgage agreed on Wednesday to pay $1.75 million to the Consumer Financial Protection Bureau for failing to accurately report home mortgage data that is used to identify discrimination.

With the new administration and eventual new leadership of the regulatory agencies, banks’ calculus that agreeing to consent orders is usually the right course is potentially changing.

The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.