CFPB Stipulation and Consent Order at 8, 14, In the matter of: Capital One Bank, (USA) N.A. (July 18, 2012), available from files.consumerfinance.gov/f/201209_cfpb_0001_001_Consent_Order_and_Stipulation.pdf (`Capital One Consent Order`).  Disclosure of consumer complaint data, docket No. CFPB-2012-0023, at 9 a.m. (March 25, 2013), available at files.consumerfinance.gov/f/201303_cfpb_Final-Policy-Statement-Disclosure-of-Consumer-Complaint-Data.pdf. The manual outlines the Office`s guidelines for opening investigations, developing requests for civil inquiry and investigating, concluding investigations, seeking a settlement or filing a lawsuit or administrative forum, analyzing statutes of limitations, seeking a toll agreement, seeking civil fines, exchanging and collecting information from third parties, including banks and Internet service providers, and much more. What does RESPA say about MMAs? RESPA is not directly interested in the legality of MMAs. However, ReSPA`s Section 8 A prohibits the payment of commissions or other “value claims” for the transfer of settlement services pursuant to an “agreement or agreement” and Section 8 (b) of RESPA prohibits the sharing of a fee for a settlement service “except for the services actually provided”. Section 8 offences may result in civil and criminal penalties. On December 1, the U.S. District Court for the District of Rhode Island dismissed a national bank`s request to dismiss a CFPB complaint for violation of the Consumer Financial Protection Act (CFPA) and TILA, rejecting the bank`s argument that, among other things, the rights of the CFPB were prescribed and that the case could not be prosecuted because the CFPB structure violated the constitutional separation of powers.
As already covered by InfoBytes, the CFPB filed a complaint in January against the bank, which stated, among other things, that the bank had not properly handled consumer settlement disputes due to unauthorized use of cards and billing errors; (ii) repayments of credit to consumer accounts as a result of such disputes; or (iii) to provide consumers with credit advice information.