On September 7, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a group of affiliated education financing companies that provided students with income share agreements (ISAs) to finance postsecondary education. The consent order resolves allegations that the companies violated the Consumer Financial Protection Act (CFPA), Regulation Z…
On June 29, 2021, the Consumer Financial Protection Bureau (CFPB) announced it filed a proposed stipulated order with a Maryland-based debt relief and credit repair company concerning alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). If accepted by the court, the order would ban the company and its…
On May 27, 2021 the Consumer Financial Protection Bureau (CFPB) announced that it had reached a settlement with a Florida-based payday lender and its CEO to resolve a 2020 lawsuit alleging violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. § 5564. In 2020, and as previously covered by Enforcement Watch, the CFPB filed its complaint against…
On May 21, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order and stipulation with a California-based company that services subprime auto loans originated by car dealers. According to the consent order and stipulation, the CFPB found that the company engaged in unfair acts or practices by charging interest on late payments related to loss damage waiver fees,…
On May 17, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it has entered into a stipulated judgment and order to resolve a civil action that it previously filed against a debt settlement company in the U.S. District Court for the District of Massachusetts on December 1, 2020, as previously reported here. The CFPB initially filed suit against the debt settlement company…
On April 27, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a reverse mortgage broker and lender, resolving allegations that the company violated the Mortgages Acts and Practices Advertising Rule (MAP Rule), Regulation Z, and the Consumer Financial Protection Act (CFPA)…
On April 13, 2021 the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with an online debt-settlement company to resolve alleged violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531, 5536(a), 5564, 5565, and the Telemarketing Sales Rule (TSR), 6 C.F.R. Part 310. According to the complaint, the…
On April 6, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a third-party debt collection company and its former owner for alleged violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531, 5536 and Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq. The CFPB alleged that…
On March 16, 2021 the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint in the U.S. District Court for the Central District of California against a California-based student debt relief company, its owner, and manager to resolve alleged violations of the Telemarketing and Consumer Fraud and Abuse Prevention Act, 15…
On March 3, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint in the U.S. District Court for the Northern District of Illinois against a Chicago-based payment processor for alleged violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §5531 and 5536(a)(1)(B), the Consumer Fraud and Abuse Prevention Act (Telemarketing Act), 15…
On January 15, 2021, the Consumer Financial Protection Bureau (CFPB) announced it had filed suit in the United States District Court for the District of Connecticut against a Connecticut-based mortgage company and three individual defendants for alleged violations of the Truth in Lending Act (TILA), the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act…
On December 30, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a lender that provided installment loans to consumers affiliated with the military over the lender’s alleged violations of the Military Lending Act (MLA), Electronic Fund Transfer Act (EFTA), and Consumer…
On December 18, 2020, the Consumer Financial Protection Bureau (Bureau) announced that it had entered into a consent order with a mortgage servicing company (and its successor in interest) resolving allegations that the company’s conduct between 2014 and 2018 violated the Consumer Financial Protection Act (CFPA) and Regulation X, the implementing regulations of the…
On December 11, 2020, the Consumer Financial Protection Bureau (Bureau) and the Arkansas Attorney General (AG) announced that they filed a complaint and proposed stipulated judgment in the U.S. District Court for the Eastern District of Arkansas against a home-security company. The complaint alleges that the company—which provided credit to customers for its products and services—violated the Consumer…
On December 9, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a complaint against a Missouri-based debt collection company in federal court in the Western District of Missouri. The CFPB alleges the company violated the Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. §§ 1692e and 1692g and the Consumer Financial…
On December 8, 2020, the Consumer Financial Protection Bureau (Bureau) announced that it had entered into a consent order with a New Jersey debt collection company, resolving allegations that the debt collection company violated the Fair Debt Collection Practices Act (FDCPA) and the Consumer Financial Protection Act (CFPA). The debt collection company was engaged…
On November 20, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a Florida-based company that offers auto loans over the company’s alleged violations of the Consumer Financial Protection Act (CFPA). The consent order, entered against both the company and personally against the company’s…
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…