Enforcement actions

The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.

The consumer bureau says the online lender improperly extracted millions from over 5,000 accounts without getting authorization.

Chris D’Angelo, the CFPB's associate director of supervision, enforcement and fair lending, is leaving the bureau after eight years to become a chief deputy attorney general in New York state.

The consent order against California Check Cashing Stores is part of a broader crackdown by the Department of Business Oversight on small-dollar lenders trying to skirt interest rate limits.

The company owning brands such as Kay Jewelers and Jared the Galleria of Jewelry will pay $11 million under a settlement with the consumer bureau and New York's attorney general.

Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business.

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.

In her New Year’s message, CFPB Director Kathy Kraninger called on the agency to ensure that consumers are treated fairly and that “the marketplace is innovating.”

The cost of Wells Fargo's scandals continues to rise as regulators from all 50 states forced the institution to pay hundreds of millions in penalties for the creation of fake accounts, improper enrollment in life insurance, force-placed auto insurance policies and other activities.

The alleged supervisory lapses occurred over a five-year period, according to the regulator.

The biggest question is whether new CFPB Director Kathy Kraninger will deviate from the pro-industry policies of her predecessor, or bring continuity.

The Office of the Comptroller of the Currency announced Friday that it has lifted restrictions relating to U.S. Bank's flawed efforts to prevent money laundering and Citi's deceptive marketing and billing practices.

The Massachusetts senator and critic of Trump administration policies sent the new CFPB director an expansive list of to-do items for her first month on the job.

The Federal Reserve Board chairman told Sen. Elizabeth Warren in a letter that the central bank is actively reviewing the bank's progress in following a February consent order.

The move means the cap on asset growth may stay in place longer; the German bank reportedly processed 80% of the money laundered through Danske Bank.

An eight-month-old consent order appears to be forcing the San Francisco bank to grapple more deeply than it did previously with the many failures that led to its account-opening scandal.

The CFPB ordered Village Capital & Investment in Henderson, Nev., to issue refunds and pay a penalty for allegedly misrepresenting the cost savings in a refi product.

The Massachusetts senator said the government’s findings bolster allegations that the servicer steered borrowers into expensive student loan forbearance plans.

The megabank’s continued compliance problems suggest that all of its board members, along with 100 of its most senior managers, should be replaced to make way for real change.

The French bank was hit with the fine after it was found to have unsafe practices that violated sanctions against Cuba and other sanctioned countries.