On November 20, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a complaint against an Illinois-based debt settlement company and the company’s owners for alleged violations of Telemarketing Sales Rule (TSR), 16 C.F.R. § 310.4, and the Consumer Financial Protection Act (CFPA), 12 U.S.C. § 5536….
On November 12, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an Illinois-based debt collector that collects debts on behalf of telecommunications companies and furnishes consumer-account information to credit reporting agencies. The CFPB alleged that the debt collector violated the Fair Credit Reporting Act (FCRA) and the…
On November 5, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had filed a complaint against a California student loan debt settlement company and the company’s CEO in the U.S. District Court for the Central District of California. The complaint alleges that the company violated the Telemarketing Sales…
On November 5, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had filed a complaint against a Florida-based payday lender and its CEO in the Southern District of Florida. The complaint alleges that the company violated the Consumer Financial Protection Act (CFPA) by engaging in deceptive acts and practices in connection with the…
On November 2, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had entered into a consent order with a Texas-based auto lender. The CFPB alleged that the auto lender engaged in deceptive acts and practices in violation of the Consumer Financial Protection Act (CFPA) by falsely claiming that…
On October 26, 2020, the Consumer Financial Protection Bureau (CFPB) announced it had a reached a settlement with a Utah-based mortgage lender and broker, resolving allegations that the lender had engaged in deceptive acts and practices in violation of the Consumer Financial Protection Act, 12 U.S.C. §§ 5531, 5536 (CFPA),…
On October 15, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it has reached a proposed settlement with the nation’s largest debt collector. The CFPB previously reached a consent order with this company in 2015 for alleged violations of the Consumer Financial Protection Act (CFPA), Fair Debt Collection Practices Act (FDCPA),…
On September 15, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had filed a proposed stipulated judgment against a Delaware statutory trust after a settlement agreement was reached between the trust and forty-seven states plus the District of Columbia. The trust was created to purchase and hold beneficial…
On September 21, 2020, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with an auto loan servicer to resolve allegations that the company charged customers for loss damage waiver coverage without actually providing it. According to the CFPB, this practice was unfair under the Consumer Financial Protection Act,…
On September 14, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a consent order with a mortgage broker and lender that advertises and offers mortgage loans guaranteed by the United States Department of Veterans Affairs (VA) through direct-mail advertisements sent primarily to United States military…
On September 14, 2020, New York Attorney General Letitia James announced that she secured protections for thousands of student borrowers who defaulted on student loans and who were allegedly subject to misleading and unlawful actions by one of the nation’s largest debt collectors. The settlement agreement resolves an investigation of…
On September 8, 2020, the Consumer Financial Protection Bureau (CFPB) and the New York State Attorney General announced they filed a complaint against five New York debt-collection companies, along with the individual owners and managers of the firms. The complaint, filed in the Western District of New York, alleges the…
On September 8, 2020, the Consumer Financial Protection Bureau (CFPB) announced it filed a complaint against a group of California-based debt collection companies and their subsidiaries. The complaint, filed in the Southern District of California, alleges the defendants violated the terms of a 2015 consent order (the Order) with the…
On July 27, 2020, Pennsylvania Attorney General Josh Shapiro announced that his office had obtained an important win in a decision from the United States Court of Appeals for the Third Circuit, as part of the Office of Attorney General’s ongoing court battle with the nation’s second-largest servicer of federal and private…
On August 26, 2020 the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based mortgage lender, resolving allegations that the company violated the Consumer Financial Protection Act (CFPA) and Truth in Lending Act (TILA) by engaging in deceptive acts and practices with…
On August 21, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had a reached a settlement with a California-based lender, resolving allegations that the lender had sent deceptive loan advertisements to servicemembers and veterans in violation of the Consumer Financial Protection Act (CFPA), the Mortgage Acts and Practices…
On July 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it entered consent orders (here and here) against two California-based mortgage lenders, resolving allegations that the lenders violated the Truth in Lending Act (TILA), 15 U.S.C. §§ 1601–1667f, and its implementing regulation, Regulation Z, 12 C.F.R. § 1026.24;…
On July 20, 2020, the Consumer Financial Protection Bureau (CFPB) announced that the United States District Court for the Central District of California had entered its stipulated final judgment with a foreclosure relief services company and its owner, resolving allegations that the defendants had engaged in deceptive and abusive acts…
On June 23, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with three companies that issued contracts for deeds with consumers. According to the CFPB, between 2010 and 2016, these companies allegedly had a business plan of acquiring foreclosed properties in bulk and reselling them to consumers through seller financing…
On May 14, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a proposed stipulated judgment and final order with a California-based mortgage lender and several affiliated individuals and companies (collectively, the “lender”) resolving allegations that the lender had obtained consumer credit reports for an improper…