CFPB continues to be an Enforcer
Even though the Consumer Financial Protection Bureau (CFPB) had slowed its enforcement actions dramatically in 2018, a few actions have come out of this bureau within the last few months including a present settlement with USAA Federal Savings Bank (USAA), a federally chartered cost savings association headquartered in San Antonio, Texas, with roughly $80.5 billion as a whole assets. The bank agreed to the terms of the order, to provide over $12 million in restitution and pay a $3.5 million civil money penalty without admitting or denying any of the alleged violations outlined in the 39-page consent order.