CFPB Takes Action Against Mr. Cooper For Unauthorized Withdrawals

CFPB Takes Action Against Mr. Cooper For Unauthorized Withdrawals

April 28, 2021
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The Consumer Financial Protection Bureau's acting director, Dave Uejio, issued a statement in response to apparent unauthorized withdrawals made by a mortgage servicer, Mr. Cooper.

Unauthorized duplicate-payment drafts by Mr. Cooper appear to have resulted in hundreds of thousands of consumers’ bank accounts being debited for multiples of their mortgage payments, according to the CFPB. Affected consumers have reported being charged overdraft fees and likely suffered additional harm as a result of these unauthorized withdrawals.

"The CFPB is taking immediate action to understand and resolve the situation that has affected hundreds of thousands of consumers," said Uejio. "The CFPB will use all appropriate tools at our disposal to help ensure harmed consumers receive relief. Consumers affected by the incident should monitor their accounts and may contact Mr. Cooper directly. Consumers can submit complaints to the CFPB at www.consumerfinance.gov or toll-free at 855-411-2372."

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