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December was one of the most active months for the Consumer Financial Protection Bureau as it took several enforcement actions spanning from mortgage servicing to indirect auto lending. A number of cases were key milestones for the agency as it partnered with federal and state authorities as well as employed some controversial legal theories such as disparate impact. Here's a countdown of the big cases for the month

Pictured: CFPB Director Richard Cordray (Image: Bloomberg News)
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Deferred-Interest Cards

The CFPB kicked off December by ordering GE Capital Retail Bank on Dec. 10 to refund $34.1 million to consumers who were retroactively charged exorbitant interest rates after signing up for a certain credit card at their medical office. The order against GE and a subsidiary marked the agency's first formal action to crack down on deferred-interest card products since it warned about such tactics in October.

Related: CFPB Takes First Enforcement Action Against Deferred-Interest Cards

(Image: Thinkstock)
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Online Lenders

On Dec. 16, the CFPB and four state attorneys general jointly announced several actions against California-based online loan servicer CashCall Inc., over accusations that it exceeded state usury limits and violated federal debt collection laws through its affiliation with the online lender, Western Sky. The complaint filed by the CFPB marked its first legal action to reign in on the online lending space and a powerful step with state authorities.

Related: CFPB Now Partnering with States to Rein in Online Lenders

Pictured: Colorado Attorney General John Suthers
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Mortgage Servicing

The nation's largest nonbank servicer, Ocwen Financial, agreed to pay $2.1 billion to settle allegations with the CFPB and nearly every state authority that it mishandled foreclosures and mortgages for thousands of struggling borrowers. CFPB officials said during the call on Dec. 19 that the actions were a preview to the agency's new mortgage servicing rules that take effect in January.

Related: Ocwen $2B Order Previews Sweeping Mortgage Servicing Changes

(Image: Thinkstock)
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Indirect Auto Lenders

In one of the largest joint actions with the Department of Justice, the CFPB on Dec. 20 charged Ally Financial and its bank for alleged discrimination in allowing partnering dealerships to charge more to minorities for auto loans. The $98 million settlement was significant because it was the first time the CFPB used the so-called disparate impact theory — which is unintentional discrimination — in holding indirect auto lenders responsible for what the dealerships charge after the lender sets the wholesale interest rate.

Related: CFPB, DOJ Using Force to Change Auto Lending Industry

(Image: Bloomberg News)
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Mortgage Lending

The CFPB again joined with the DOJ in a complaint filed Dec. 23 against National City Bank — now owned by PNC Financial — for charging more on mortgages to African-Americans and Hispanics. PNC Bank agreed to pay $35 million in restitution to those harmed by such activity before it acquired National City in 2008. "This case marks the Justice Department's latest step to protect Americans from discriminatory lending practices," Attorney General Eric Holder said.

Related: PNC Agrees to $35M Settlement Over NatCity Loans

(Image: Bloomberg News)
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Credit Card "Add-On" Products

The CFPB charged American Express more than $69 million in restitution and fines on Dec. 24 over allegations that Amex used unfair billing tactics and deceptive marketing practices through its credit card "add-on products" such as payment protection. The order was in coordination with other actions taken by the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency that day, all totaling nearly $76 million in fines.

Related: Amex to Pay $76M for Marketing, Billing Violations

(Image: Bloomberg News)
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