Civil Litigation
Jun. 28, 2017
Judge seems to favor financial regulator against mortgage finance company
The Consumer Financial Protection Bureau seemed to have the upper hand over Nationwide Biweekly Administration in closing arguments of a bench trial where the agency accuses the company of misleading consumers while offering them a mortgage financing service.
SAN FRANCISCO — The Consumer Financial Protection Bureau seemed to have the upper hand over Nationwide Biweekly Administration in closing arguments of a bench trial in which the agency accuses the company of misleading consumers while offering them a mortgage financing service.
The bureau alleges that the program provided very little financial benefit, charged a large up-front fee, and took up to nine years before generating a retur...
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