On February 27, Russell Vought, acting director of the Consumer Financial Protection Bureau (CFPB), dismissed its lawsuit against Vanderbilt Mortgage & Finance.
No reason was given for the suit being dropped.
Vanderbilt was accused, in a January lawsuit, of pressuring borrowers to take “unaffordable loans” that ultimately caused some to lose their homes. Specifically, this is a violation of the Truth in Lending Act. The company is the financing arm of Clayton Homes, which itself is a subsidiary of Berkshire Hathaway.
