On May 22, 2025, the FTC filed a proposed stipulated order in the District Court for the Middle District of Florida to resolve allegations that several individuals and the student loan debt relief companies that they operated engaged in lending practices that violated the FTC Act, the Telemarketing Sales Rule, and the Gramm-Leach-Bliley Act. In the complaint, filed…
On January 17, 2025, the CFPB announced that it had entered into a consent order with a credit reporting agency to resolve allegations that the agency violated the Fair Credit Reporting Act (FCRA) and the Consumer Financial Protection Act (CFPA) by purportedly conducting unreasonable investigations into consumer credit reporting disputes. In its consent order,…
On January 17, 2025, the CFPB announced that it had entered into a consent order with the financing arm of a major auto manufacturer, resolving allegations that the manufacturer violated the Fair Credit Reporting Act (FCRA) and its implementing Regulation V, and the Consumer Financial Protection Act (CFPA) through its allegedly improper reporting of consumer credit information…
On January 16, 2025, the CFPB announced that it had entered into a consent order with the operator of a popular peer-to-peer payment application, resolving allegations that the operator had systematically failed to adequately investigate consumer claims of fraud. The operator agreed to pay a minimum of $130 million (and up to $175…
On January 16, 2025, the CFPB announced that it entered into a stipulated proposed final judgment to settle its suit against a student loan trust, in which the CFPB alleged that the trust engaged in deceptive acts in violation of the Consumer Financial Protection Act (CFPA) by filing improper debt collection suits against student borrowers….
On January 16, 2025, the United States Department of Justice (DOJ) announced that it had reached a settlement with a credit card provider resolving allegations that the provider violated the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) through allegedly deceptive marketing of its credit card and wire transfer products, and by allegedly…
On January 14, 2025, the CFPB announced that it had filed a complaint against a large national bank for alleged violations of the Consumer Financial Protection Act (CFPA), the Truth in Savings Act (TISA) and TISA’s implementing regulation, Regulation DD, regarding the bank’s alleged improper interest rate practices. According to the CFPB’s complaint, the bank offered a…
On January 14, 2025, New York Attorney General Letitia James announced that the state had entered into a settlement with a national credit reporting provider to resolve allegations that the provider had harmed consumers by disseminating incorrect credit reporting information to lenders. According to the Attorney General, the credit reporting provider implemented a change to…
On December 5, 2024, the CFPB announced that it had entered into a proposed stipulated final judgment and order with a student lender and its investors, resolving allegations that the student lender had violated the Consumer Financial Protection Act (CFPA), the Truth in Lending Act (TILA), and Regulation Z through deceptive advertising and disclosures. In…
On November 7, 2024, the CFPB announced that it had entered into a consent order with a major credit union resolving allegations that the credit union improperly assessed overdraft fees against consumers. The credit union agreed to pay nearly $95 million to resolve the allegations. In its consent order, the CFPB alleged that…
On November 5, 2024, the FTC announced that it had filed suit against a California-based online cash advance provider for allegedly deceptive and misleading advertisements and representations, in violation of the FTC Act, 15 U.S.C. § 45(a), and the Restore Online Shoppers’ Confidence Act (“ROSCA”), 15 U.S.C. § 8403.z According to…
On November 4, 2024, the FTC announced that it had filed suit against a Georgia-based debt collector for engaging in allegedly deceptive and abusive debt collection practices, in violation of the FTC Act, 15 U.S.C. § 45(a), the FDCPA, 15 U.S.C. §§ 1692-1692p, and its associated Regulation F, 12 C.F.R. Part 1006, and the Gramm-Leach-Bliley…
On August 29, 2024, the CFPB announced that it had entered into a stipulation and consent order with a Florida-based mortgage lender, resolving allegations that the mortgage provider had misrepresented the payment terms of cash-out mortgage refinance loans it offered to servicemembers and veterans. In its consent order, the CFPB alleged that the mortgage lender committed deceptive acts or…
On August 21, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a Florida-based mortgage servicer, resolving allegations related to the mortgage servicer’s foreclosure practices. The consent order resolves allegations that the mortgage servicer’s foreclosure practices violated the Consumer Financial Protection Act of 2010 (CFPA), 12 U.S.C. §§ 5531, 5536; the…
On May 31, 2024, the CFPB announced that it had filed suit against a Pennsylvania-based student loan servicer for engaging in allegedly unfair, deceptive and abusive acts or practices in violation of the CFPA, 12 U.S.C. §§ 5531, 5536(a)(1)(B), and for failing to establish reasonable credit reporting procedures in violation of Regulation V, 12…
On April 25, 2024, the FTC announced that it filed a suit against a Washington-based third-party bill payment company and two of its chief executives for engaging in allegedly deceptive and misleading practices in violation of Section 5(a) of the FTC Act, 15 U.S.C. § 45(a), Section 521 of the Gramm-Leach-Bliley Act (GLB Act), 15 U.S.C. 23 § 6821, and…