A judge in the U.S. District Court for the Southern District of Florida recently denied the Consumer Financial Protection Bureau's challenge to confidential designations desired by the defendant, Ocwen Financial Corporation, in a case in which CFPB is suing Ocwem for alleged violations of several federal consumer financial protection laws, that Florida Record reported. The June 25 court order by U.S. District Judge William Matthewman characterizes the case as “a government enforcement action,” citing the CFPB as the agency alleging violations. The alleged violations include improperly calculated loan balances, borrower payments which were allegedly wrongly allocated, errors in escrow processes and negligence in addressing consumer complaints. In the course of the legal challenge, the CFPB and defendant entered into a “stipulated protective order” or SPO, that governs confidentiality of information. The court document shows that after going through the process of interrogatories, the defendant argued that other information outside of SPO guidelines also deserves the confidentiality designation. CFPB's motion challenged this assertion.
