Search Results: Consumer Protection

NJ AG Enters into Consent Order with Mortgage Servicer

On July 1, 2023, the New Jersey Division of Consumer Affairs, Office of Consumer Protection (Division) entered into a consent order with a national mortgage servicer. According to the Division’s press release, the company, which was formerly licensed in New Jersey before relocating to Florida, had violated the state’s consumer protection laws in…

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Massachusetts Division of Banks Enters into Consent Order with Mortgage Lender

On January 26, 2023, the Massachusetts Division of Banks (DOB) entered into a consent order​ with a California-based mortgage lender. According to the DOB, the company, which was licensed as a mortgage lender in Massachusetts, had allowed a separate company to use its government issued mortgage license number, which could mislead consumers into…

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CFPB Warns Banks that Unilaterally Opening Closed Bank Accounts Could Be a Federal Law Violation

On Monday May 10, 2023, the Consumer Financial Protection Bureau (CFPB or the Bureau) released a circular regarding the Bureau’s newest guidance that if a “financial institution unilaterally reopens [deposit] accounts to process debits or deposits, it can constitute an unfair practice under the [Consumer Financial Protection Act of 2012]…

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CFPB Enters Into $15 Million Settlement with Auto Lender

On February 23, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order​ with an auto lender based in Georgia.  The order resolves allegations that the lender engaged in unfair practices and predatory lending as to military families on auto title loans in violation of the Consumer Financial Protection Act (CFPA), 12…

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Massachusetts AG Enters Into $7.6 Million Settlement With Auto Dealer

On February 2, 2023, the Massachusetts Attorney General’s Office (Massachusetts AG) announced that it had entered into a settlement with an auto dealer to resolve allegations that the company engaged in illegal auto loan collection practices in violation of the state’s consumer protection laws. Specifically, the Massachusetts AG alleges that…

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