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January 2014 Archives

Ocwen Ordered to Provide $2 Billion in Relief to Homeowners

In late December 2013, the Consumer Financial Protection Bureau (CFPB), together with authorities in 49 states and the District of Columbia, filed a proposed order requiring the nation’s largest nonbank mortgage loan servicer, Ocwen Financial Corporation, and its subsidiary, Ocwen Loan Servicing, to provide $2 billion in principal reduction to underwater borrowers.

Members Appointed to Newly Created National Commission on Forensic Science

Members of the National Commission on Forensic Science are charged with working to improve the practice of forensic science by developing guidance concerning the intersections between forensic science and the criminal justice system.

American Express Ordered to Refund $59.5 Million to Consumers

The Consumer Financial Protection Bureau (CFPB) has ordered American Express to refund an estimated $59.5 million to 335,000 consumers for illegal credit card practices. The CFPB found that American Express billed consumers for services they did not receive, unfairly charged consumers for interest and fees, and failed to inform consumers about their right to a free credit report annually.

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