The U.S. Supreme Court ruled last week that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. The court, however, did not rule that the entire agency is unconstitutional, likely protecting the independent agency that protects consumers from predatory lending practices, including in the mortgage space. “The CFPB’s single-director configuration is also incompatible with the […]
Wells Fargo to Refund Improper Mortgage Fees
Wells Fargo CEO Tim Sloan revealed plans to refund mortgage borrowers to the U.S. Senate Committee on Banking, Housing and Urban Affairs during his grilling over the bank’s massive fake account scandal last year. During the hearing, Sloan mentioned the plans to refund borrowers amid continued claims that Wells Fargo is committed to make things […]