Enforcement

The Consumer Financial Protection Bureau's enforcement attorneys have pulled back on new investigations in order to clear out a slew of pending cases, according to multiple current and former officials at the agency.

As banks have largely ceded the market for government-backed loans to nonbank lenders and servicers, it's fallen on Ginnie Mae to be sure that these nonbanks can meet their obligations to bondholders. It's a huge concern for President Ted Tozer, who says the company does not have the resources or manpower to examine these firms' finances.

The Consumer Financial Protection Bureau filed a lawsuit Tuesday against the owner of several tax-preparation outlets that allegedly steered low-income clients into expensive loans against their anticipated refunds.

Two House Financial Services subcommittee chairmen are urging the Consumer Financial Protection Bureau to delay enforcement of a new disclosure regime due to take effect this summer until Jan. 1.

The agency announced Wednesday it had filed a massive lawsuit against more than a dozen debt collectors, payment processors and related entities that the agency said failed to detect fraudulent collection tactics. By including processors in its suit, observers said the CFPB's move resembles the Justice Department's Operation Choke Point.

The shift in market composition is fueling concerns that if defaults rise, the Federal Housing Administration would have a harder time making lenders eat the losses on poorly underwritten loans.

Merchants are making a new argument in their years-long battle with banks over swipe fees, saying Apple Pay has locked them out of additional routing options mandated by Dodd-Frank.

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Wells Fargo's quality-control procedures will play a key role in a closely watched mortgage-fraud case that could go to trial this summer. Federal prosecutors are using the bank's internal reports to allege its executives knew about deficient loans.

Atlantic Coast Financial in Jacksonville, Fla., has been released from an enforcement action that required it to improve its capital ratios.

The Consumer Financial Protection Bureau issued an enforcement action against a debt collection agency that allegedly threatened borrowers with criminal prosecution and jail time if they failed to pay extra fees for writing bounced checks.

Law firms, compliance specialists, lobbyists and even startups are all trying to get a piece of the burgeoning billion-dollar industry aimed at navigating, modifying or complying with the Volcker Rule.

After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products

It's looking more likely that a judge will have to impose a fix that will bring American Express' merchant rules into compliance with federal law.

The Justice Department's Clifford White is putting all mortgage servicers on notice that they too will be punished if they flout bankruptcy rules.

Under tough questioning on Capitol Hill, Federal Deposit Insurance Corp. Martin Gruenberg said the agency accepts blame for fallout over its "high risk" businesses list as an internal FDIC watchdog is still investigating.

A U.S. District Court judge has dismissed a challenge to JPMorgan Chase's $13 billion settlement with the Justice Department.

Bank of New York Mellon will pay $714 million to settle allegations by the U.S. and New York state that it defrauded clients in foreign-exchange transactions for as long as a decade.

The agency's interpretation of a Respa rule could put an end to the long-standing practice of mortgage lenders paying real estate agents and homebuilders to send business their way.

The Consumer Financial Protection Bureau announced Tuesday that it's seeking public comment ahead of a second study on the credit card market that could pave the way for new regulations or enforcement actions.