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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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CFPB reports finding wide-ranging law violations in 2021

The CFPB on Wednesday announced that its Fall 2021 Supervisory Highlights report, issued Wednesday, reveals legal violations identified in the Bureau's examinations in the first half of 2021. Key violations listing in the report include:

  • Mortgage servicers charging improper fees, including late fees and default-related fees, to borrowers enrolled in CARES Act forbearance, and in some cases failed to refund fees until almost a year later.
  • Violations of the Equal Credit Opportunity Act by mortgage lenders who discriminated against African American and female borrowers in the granting of pricing exceptions. In these cases, examiners found the lender lacked oversight and control over how loan officers granted pricing exceptions. Examiners also found lenders who improperly considered small business applicants’ religion in their credit decisions. For religious institutions applying for small business loans, some lenders improperly utilized a questionnaire that contained explicit inquiries about an applicant’s religion.
  • Payday lenders improperly debiting or attempting to debit consumers’ bank accounts. In some instances where consumers called to authorize a loan payment by debit card, lenders’ systems erroneously indicated the transactions did not process, resulting in the improper debiting of additional, identical amounts or unauthorized attempts.
  • Remittance transfer providers failing to investigate whether deductions imposed by some foreign banks constituted a fee that the institutions were required to refund to the sender as part of the error resolution process when a sender filed a claim that funds were not delivered to designated recipients by disclosed availability dates.
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