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ARTICLE · 16 JULY 2025

CFPB Terminates Two Consent Orders Addressing Overdraft Fees And Mortgage Servicing Violations

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On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer.

United StatesFinance and Banking
A.J. Dhaliwal
A.J. Dhaliwal
Mehul Madia
Mehul Madia
Maxwell Earp-Thomas
Maxwell Earp-Thomas
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On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer. Both orders stemmed from 2024 enforcement actions and involved alleged violations of the Consumer Financial Protection Act (CFPA), with the mortgage servicing matter also receiving violations of the Real Estate Settlement Procedures Act, the Truth in Lending Act, and the Homeowners Protection Act.

The CFPB terminated its consent order against the credit union after finding the institution had satisfied the requirements imposed in November 2024. The order had required more than $80 million in redress and a $15 million civil money penalty. The CFPB's original findings included the assessment of overdraft fees on authorize-positive, settle-negative transactions, overdraft fees triggered by delayed credit postings, and the insufficient disclosure of posting practices.

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