Current News

As part of its mandate under the Dodd-Frank bill, the CFPB is tasked with increasing financial literacy among the nation’s citizens. Along with writing and enforcing legislation geared toward creating a fair and open financial marketplace, the CFPB wants consumers to better understand the financial tools and services available to…

The State of California Bureau of Real Estate recently announced that it has updated its policies surrounding compliance laws. Specifically, it has instituted a “cite and fine” policy for minor infractions, with fines up to $2500.   According to their report, “A citation or other formal action will be considered…

The Consumer Finance Protection Bureau, formed in the wake of the financial meltdown of 2008, officially turned three years old this month. Since its creation, the CFPB has grown into an effective force for change and regulation in the financial services industry. They’ve already handled over “400,000 complaints in multiple…

Last month, the CFPB fined a title company $30k for improperly paying out referral fees to mortgage brokers. “Kickbacks drive up the costs of getting a mortgage and put law-abiding companies at a disadvantage,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action against companies that…