On Tuesday, April 27, the Consumer Financial Protection Bureau announced that Mr. Cooper/Nationstar has been withdrawing multiple mortgage payments from the bank accounts of hundreds of thousands of consumers without authorization.- Checks written on affected accounts may be returned NSF.
- Automatic withdrawals from the account for auto loans, utilities, and other consumer debts may be denied.
- Banks may charge large, multiple overdraft fees.
- Credit scores will be negatively impacted by late or denied payments.