The CFPB highlighted findings from supervisory examinations completed between January 2022 and June 2022.
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The CFPB ordered five companies to provide information regarding their "buy now, pay later" credit programs. The CFPB expects to publish findings on the risks of these programs concerning accumulation of debt, regulatory arbitrage and data harvesting.
The CFPB charged a mortgage lender with using exaggerated and misleading home estimates to encourage customers to take out reverse mortgages.
A reverse mortgage lender settled CFPB charges for sending advertisements to senior citizens that misrepresented the costs and risks associated with the lender's loans.
The CFPB delayed the compliance date for an amendment to the definition of the General Qualified Mortgage category under the Truth in Lending Act.