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The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector. Its jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors and other financial companies operating in the United States. - Source: Wikipedia
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Ocwen employees had to manually enter basic information on a borrower, which in turn led to more errors, the CFPB said.
Regulators sue Ocwen Financial, say it mishandled mortgages →
CFPB said that since July 2011, when it began operations, tens of thousands of borrowers have filed complaints with Navient, the agency and other government agencies about the obstacles they faced in repaying federal and private student loans serviced by Navient.
