On May 19, 2015, the Consumer Financial Protection Bureau (CFPB) issued an announcement and released remarks prepared by Director Richard Cordray regarding a complaint filed by the CFPB against California and Maryland based online-payment services. The complaint, filed May 19 in the U.S. District Court for the District of Maryland,…
On May 12, the Consumer Financial Protection Bureau (“CFPB”) announced that it is seeking to settle claims against two cellular providers who have agreed to return $120 million in funds to wireless customers. The Bureau filed proposed orders in the United States District Courts for the District of New Jersey…
On May 11, the Consumer Financial Protection Bureau (“CFPB”) announced that it filed suit in the United States District Court for the Northern District of California against the provider of a mortgage payment liaison service for allegedly misleading customers about costs associated with its bi-weekly mortgage payment program and misrepresenting…
The Consumer Financial Protection Bureau (CFPB) settled claims with three defendants after the CFPB claimed the corporations were targeting homeowners who were struggling to make mortgage payments. The parties stipulated to final judgments for the individual defendants that were filed with the Court. The CFPB also filed a motion for default judgment as…
On April 20, the Consumer Financial Protection Bureau (CFPB) announced that it entered a Consent Order with a military payroll processor over allegations that the payroll processor applied hidden monthly fees against funds in servicemembers’ accounts, which were designated to pay creditors. The CFPB found that servicemembers usually contracted with…
On April 20, 2015, the Consumer Financial Protection Bureau (“CFPB”) announced that it entered a settlement with a Kentucky-based financial services provider over claims that the company charged excessive fees for the payroll deductions of military servicemen, and that it failed to disclose these fees to consumers. The copany allegedly…
On April 9, 2015, the Consumer Financial Protection Bureau (“CFPB”) announced a settlement with a California-based mortgage lender over claims that the lender engaged in deceptive advertising practices. The company allegedly mailed advertisements bearing the logos of the Department of Veterans Affairs and the Federal Housing Administration, ostensibly to give…
On April 8, 2015, the CFPB announced that it filed a complaint against a group of individuals and companies, alleging that they engaged in a false debt collection scheme targeting consumers in Georgia and New York. After obtaining consumer information from debt brokers and other sources, the group allegedly robo-called…
On March 30, 2015, the Consumer Financial Protection Bureau (“CFPB”) announced that a California-based debt collection agency agreed to settle claims over alleged illegal and deceptive collection practices in violation of the Consumer Financial Protection Act (“CFPA”) and the Fair Debt Collection Practices Act (“FDCPA”). The CFPB alleged in its complaint…