In a recent development, the Consumer Financial Protection Bureau (CFPB) has issued a significant penalty against TD Bank amounting to $28 million. This action comes as a result of illegal practices by the bank that have the potential to negatively impact consumer credit reports. Furthermore, the CFPB has highlighted TD Bank’s failure to promptly address and rectify the errors caused by these actions, leading to justified consequences.
Key points from the text include:
– CFPB orders TD Bank to pay $28 million for illegal actions
– Actions could harm consumer credit reports
– TD Bank did not take prompt action to correct errors
– Penalties imposed to hold the bank accountable for its actions and protect consumers’ financial interests.
You can read this full article at: https://www.housingwire.com/articles/cfpb-slaps-td-bank-28-m-fine-for-consumer-protection-violations/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
