Consumer Group Calls Out CFPB For “Inadequate” Servicing Rules

By  |  January 15, 2013
 | 

The National Consumer Law Center released a 90-page report Tuesday calling for the Consumer Financial Protection Bureau to make loan modifications mandatory in national servicing standards, AmericanBanker reported. The NCLC called the CFPB’s proposed national servicing standards “utterly inadequate.”

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    The CFPB, which proposed servicing rules in August, is expected to finalize the national standards soon, and a CFPB spokeswoman declined to comment, according to American Banker.

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