Search Results: CFPA

NY Attorney General Announces $250,000 Settlement with Money Transfer Provider

​On June 16, 2025, the New York Attorney General announced it had entered into a stipulated final judgment to settle its suit against ​a non-bank money transfer provider over alleged violations of federal and state consumer protection laws related to remittance transfers. The lawsuit alleged the company provided inaccurate disclosures…

Read More

Busy Month for CFPB with Rules Rescinded and Guidance Withdrawn

Over the past month, the Consumer Financial Protection Bureau (CFPB) took a slew of actions with the apparent aim to decrease the CFPB’s regulatory authority. On May 14, 2025, the CFPB proposed rescinding the “NBR Rule” which requires nonbanks to register certain agency enforcement and court orders with the CFPB related to…

Read More

CFPB Dismisses Deposit Account Lawsuit Against National Retailer and Fintech Company

The Consumer Financial Protection Bureau voluntarily dismissed its lawsuit with prejudice against a major retailer and a fintech company in the District of Minnesota. One of the last actions filed during the Biden administration, the Bureau originally brought claims on December 23, 2024 under the Consumer Financial Protection Act (“CFPA”),…

Read More

CFPB Orders Money Exchange Company to Pay $2.5 Million Over Remittance Practices

On January 30, 2025, the Consumer Financial Protection Bureau (CFPB) announced  that it had entered into a consent order with an international remittance company regarding the company’s use of deceptive advertising for fee amounts and failure to properly disclose applicable fees, in violation of both the Consumer Financial Protection Act (CFPA) and the Electronic Fund…

Read More

CFPB Resolves Allegations of Improper Investigations of Credit Reporting Errors with Credit Reporting Agency

​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,…

Read More

CFPB Settles Suit Against Student Loan Trust for Allegedly Improper Debt Collection Suits Against Borrowers

​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….

Read More

CFPB Files Suit Against Mortgage Lender for Alleged Discriminatory Practices

On January 17, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a proposed consent order with an Illinois-based non-depository mortgage lender, resolving allegations that the lender violated the Equal Credit Opportunity Act (ECOA), its implementing regulation, Regulation B, and the Consumer Financial Protection Act (CFPA).  In a complaint simultaneously filed in the…

Read More

CFPB Sues Consumer Reporting Agency Regarding Investigations of Consumer Disputes

On January 7, 2025, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint against a nationwide consumer reporting agency (“Agency”) under the Fair Credit Reporting Act (“FCRA”) and the Consumer Financial Protection Act of 2010 (“CFPA”). The CFPB claims that the Agency inadequately reinvestigated consumer disputes that challenged the information found in consumer…

Read More

CFPB Sues Bank Regarding Allegations of Fraud Against Benefit Recipients

​On December 6, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had filed suit against a bank subsidiary of a financial services company for allegedly disconnecting customer service calls, charging illegal ATM fees, misleading fraud victims, imposing illegal terms ​​of service on consumers seeking to stop payments, failing to investigate account…

Read More

CFPB Permanently Bans Student Loan Servicer

On December 4, 2024, the CFPB announced that it entered into a proposed stip​​ulated judgment with a student loan servicer and its owner, resolving allegations that the student loan servicer violated the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). According to the judgment, the servicer at issue and its owner illegally…

Read More

CFPB Enters Into $95 Million Consent Order with Credit Union to Resolve Allegations of Improper Overdraft Fee Practices

​On November 7, 2024, the CFPB ann​ounced​​ 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…

Read More

CFPB and DOJ File Complaint and Proposed Consent Order Against Mortgage Over Racial Discrimination Allegations

On October 15, 2024 the CFPB and DOJ announced​ they had jointly filed a complaint and consent or​der ​against a mortgage company over allegations of racial discrimination in Birmingham, Alabama​​. ​ ​The joint complaint alleged that the company engaged in unlawful discrimination by “redlining majority-Black and high-Black areas in Birmingham” and engaging in acts that would discourage applicants…

Read More

CFPB Permanently Bans Large Student Loan Servicer from Market and Orders Redress of $120 Million

On September 12, 2024, the CFPB announced that it entered into a stipulated proposed order with a large student loan servicer resolving allegations that the servicer forced borrowers into costly repayment options.​ Under the proposed order, the servicer would cease its servicing federal direct loans. In a January 2017 complaint, the CFPB accused the…

Read More

CFPB Enters into $28 Million Consent Order Resolving Allegations of Consumer Credit Misreporting

​On September 11, the CFPB announced that it had entered into a consent order with a national bank resolving allegations that the bank reported inaccurate information to consumer reporting companies.  The bank agreed to pay nearly $28 million to resolve these allegations.​ The CFPB alleged the bank violated the Fair Credit Reporting Act (FCRA) and the Consumer…

Read More

CFPB Enters Consent Order and Stipulation with National Bank to Resolve Allegations of Inaccurate Furnishing of Credit Information and Dispute Investigations

On September 11, 2024 the CFPB announced that it had entered into a consent order and stipulation with a national bank, resolving allegations that the bank repeatedly furnished inaccurate credit information, and that the bank knew of the inaccuracies for a year or more before correcting them in violation of the Fair Credit Reporting Act (FCRA),…

Read More

CFPB Enters Into Consent Order With Mortgage Servicer Resolving Allegations of Improper Foreclosure Practices

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…

Read More