www.consumerfinance.gov/ask-cfpb/category-student-loans/.  A detailed review of the surveillance appeal procedure is available in CFPB 2012-07, Appeals of Supervisory Matters, October 31, 2012, starting files.consumerfinance.gov/f/201210_cfpb_bulletin_supervisory-appeals-process.pdf.  CFPB v. Payday Loan Debt Solution Inc. No. 1:12-cv-24410, legal decision and 7 a.m. stop (S.D. Fl., registered December 21, 2012), available from files.consumerfinance.gov/f/201212_cfpb_plds-final-judgment.pdf.  CFPB Student Loan Ombudsman Annual Report (October 16, 2012), available from files.consumerfinance.gov/f/201210_cfpb_Student-Loan-Ombudsman-Annual-Report.pdf. The manual outlines the Office`s guidelines for opening investigations, developing requests for civil inquiry and investigating, concluding investigations, seeking a settlement or filing a lawsuit or administrative forum, analyzing statutes of limitations, seeking a toll agreement, seeking civil fines, exchanging and collecting information from third parties, including banks and Internet service providers, and much more.
What did the Bulletin say? In the newsletter, the GFPb criticized the ASMs. It states that „any agreement involving the exchange of value for settlement transfers relating to a federal mortgage is likely to be contrary to the RESPA, whether or not an MSA or related agreement is part of the transaction.“ He described MMAs as agreements that „are generally referred to as payments for advertising or advertising services, but in some cases the payments are in fact disguised compensation for transfers.“ It also indicated that, when determining whether an MSA violates the RESPA, it would review all „facts and circumstances relating to the creation and implementation of each agreement.“  12 C.F.R. Part 1090 (Oct 24, 2012), available from files.consumerfinance.gov/f/201210_cfpb_debt-collection-final-rule.pdf; See also the CFPB press release, Consumer Financial Protection Bureau to Oversee Debt Collectors (October 24, 2012), available from www.consumerfinance.gov/pressreleases/consumer-financial-protection-bureau-to-oversee-debt-collectors/. On December 1, the U.S. District Court for the District of Rhode Island dismissed a national bank`s request to dismiss a CFPB complaint for violation of the Consumer Financial Protection Act (CFPA) and TILA, rejecting the bank`s argument that, among other things, the rights of the CFPB were prescribed and that the case could not be prosecuted because the CFPB structure violated the constitutional separation of powers. As already covered by InfoBytes, the CFPB filed a complaint in January against the bank, which stated, among other things, that the bank had not properly handled consumer settlement disputes due to unauthorized use of cards and billing errors; (ii) repayments of credit to consumer accounts as a result of such disputes; or (iii) to provide consumers with credit advice information. According to the CFPB, the alleged behaviour began „in 2010 or earlier and, depending on the injury, ended in 2015 or 2016.“ The GFPB also noted the signing by the parties of agreements covering all limitation periods applicable between February 23, 2017 and January 31, 2020.