CFPB Sues Berkshire-Owned Lender Over ‘Unaffordable' Loans [Yahoo! Finance Canada]
Berkshire Hathaway Inc. New (BRK.B)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The Consumer Financial Protection Bureau sued Vanderbilt Mortgage & Finance Inc. in US District Court for the Eastern District of Tennessee, claiming the firm's lending process “ignored clear and obvious red flags that certain consumers would not be able to repay their loans according to their terms,” according to the complaint. “Vanderbilt knowingly traps people in risky loans in order to close the deal on selling a manufactured home,” CFPB Director Rohit Chopra said in a statement. “The CFPB's lawsuit seeks to not only protect homebuyers, but also honest lenders helping people to finance the purchase of an affordable home.” Vanderbilt is a unit of Clayton Homes Inc., a builder of single-family homes founded in 1956 in Tennessee. Berkshire acquired Clayton in 2003. “The CFPB's lawsuit is unfounded and untrue, and is the latest example of politically motivated, regulatory overreach,” Maryville, Tennessee-based Vanderbilt said in an emailed statement.
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BRK.B
Earnings
- 11/4/24 - Beat
BRK.B
Sec Filings
- 1/3/25 - Form 4
- 12/27/24 - Form 4
- 12/26/24 - Form 144
- BRK.B's page on the SEC website