CFPB Terminates BofA Consent Order 3 Years Early

CFPB terminates BofA consent order 3 years early

The bureau was to monitor Bank of America for five years in connection with a $12 million penalty it paid for allegedly failing to collect demographic data on mortgage applicants.

CFPB Terminates Bank of America Consent Order Early - The MortgagePoint

The Bureau has closed a consent order against BofA more than three years ahead of schedule after the bank fulfilled its obligations over HMDA violations.

CFPB cuts short monitoring of Bank of America mortgage practices

The Consumer Financial Protection Bureau (CFPB) cut short a five-year agreement with Bank of America over the bank’s alleged submissions of false mortgage data. The agreement was supposed to be in place through at least November 2028. In a filing made public Monday, the CFPB said the bank “fulfilled the obligations” of the agreement signed in November 2023, which included a $12 million civil penalty. The agreement was terminated on June 4, accor…