Enforcement

A three-judge panel determined that a lower-court ruling against two law firms specializing in mortgage repair had used the wrong measure to calculate restitution.

The Securities and Exchange Commission accuses the company of improperly profiting from sales of the digital token XRP. Here’s how Ripple’s high-priced legal team is trying to poke holes in the government's case.

Rohit Chopra, who was the Consumer Financial Protection Bureau's first student loan ombudsman, is expected to crack down on unfair debt collection and other practices once he is confirmed by the Senate to lead the bureau. Observers predict he'll work closely with former CFPB Director Richard Cordray, who now oversees the Education Department’s $1.7 trillion portfolio of federal student loans.

The Biden administration wants financial institutions to tell the government more about their customers to help the IRS thwart wealthy tax evaders. But critics say the plan could threaten account data security and the privacy of even low-income consumers.

The company is making many employees sift through years of text messages on personal devices and set aside any related to work to ensure U.S. rules on keeping copies of business communications are met even after many months of remote work, according to people with knowledge of the situation.

Any bank that engages in auto, mortgage or other retail lending should develop a comprehensive program to identify potential risks of noncompliance with consumer protection rules and take corrective actions before the Biden-era Consumer Financial Protection Bureau comes calling.

Prosecutors say Natalie Mayflower Sours Edwards leaked over 50,000 documents, including 2,000 suspicious activity reports, related to payments involving former President Donald Trump's 2016 campaign chairman.

The departures of Bryan Schneider and Peggy Twohig come as the Biden administration's nominee to run the consumer bureau awaits Senate confirmation.

A Biden administration initiative to crack down on wealthy taxpayers hiding pass-through income would require financial institutions to send account flow data to the IRS.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

Some banks are removing the term “sales” from training materials out of fear regulators will accuse them of unethical, high-pressure tactics. But that’s an overreaction to federal probes of extreme cases — sales are essential to growth.

The FDIC said Financial Pacific Leasing, a subsidiary of the Oregon bank, charged undisclosed fees to borrowers, made excessive collection calls and disclosed information about customer debts to third parties.

The banks disclosed this week that they are under scrutiny for conduct that may have harmed consumers. The timing raises questions about whether the Consumer Financial Protection Bureau under President Biden is poised to bring more enforcement actions against large banks than it did under Trump-appointed Director Kathy Kraninger.

Cordray, named this week to lead the Education Department's office of federal student aid, cracked down on banks, student loan servicers and for-profit colleges when he was director of the Consumer Financial Protection Bureau.

The Securities and Exchange Commission’s new enforcement chief abruptly resigned Wednesday, citing a complication in a case from her prior legal career, an early and significant setback in Chairman Gary Gensler’s tenure running the Wall Street regulator.

The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.

The Consumer Financial Protection Bureau's revocation of a Trump-era policy on abusive practices could mean higher fines and penalties for violators. But it still isn't clear what makes a practice abusive.

The agency has suggested it could go beyond enforcing fair-lending laws to urge financial institutions to help narrow the wealth gap. But those very same laws pose obstacles to achieving that goal.

Senate Banking Committee Chairman Sherrod Brown asked banks involved with Bill Hwang’s Archegos Capital Management to explain their role in the firm’s implosion.

A recent statement by acting Director Dave Uejio is the clearest signal that the agency plans to revive strong underwriting standards that the Trump administration eliminated.