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 […]
Monthly Archives: January 2014
Members Appointed to Newly Created National Commission on Forensic Science
On January 10, 2014, the U.S. Department of Justice and the U.S. Department of Commerce’s National Institute of Standards and Technology (“NIST”) announced appointments to a newly-created National Commission on Forensic Science (“Commission”). Members of the Commission are charged with working to improve the practice of forensic science by developing […]
American Express Ordered to Refund $59.5 Million to Consumers
In late December 2013, the Consumer Financial Protection Bureau (CFPB) ordered American Express to refund an estimated $59.5 million to 335,000 consumers for illegal credit card practices. The practices included unfair billing tactics and deceptive marketing with respect to credit card add-on products such as payment protection and credit monitoring. […]