CFPB Ends Monitoring of Large National Bank

The CFPB recently terminated a 2023 consent order entered into with a large national bank regarding allegations that the bank reported inaccurate HMDA data.  For further information on the underlying facts and terms of the consent order, see WBK’s article here.  The CFPB’s termination action ends its monitoring of the bank nearly three years ahead of schedule.  The CFPB determined that the bank fulfilled its obligations under the consent order by paying the $12 million civil money penalty and by satisfying the imposed compliance requirements.