General World News

CFPB outlines issues with illegal ‘junk fees’ by mortgage servicers

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers.

“For years, junk fees have been creeping across the economy,” said CFPB Director Rohit Chopra. “Our report describes a host of illegal junk fee practices that the CFPB has uncovered across the financial services sector.”

A November 2022 Supervisory Highlights report described how “illegal fees [are] being charged in the details ⇒

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