…the “true lender” is the entity who, at the date of origination, (1) is named as the lender in the loan agreement or (2) funds the loan. The deadline for…
…the “true lender” is the entity who, at the date of origination, (1) is named as the lender in the loan agreement or (2) funds the loan. The deadline for…
…loan debt-relief business and a marketing and customer service company for engaging in a nationwide student-loan debt-relief operation that allegedly charged illegal upfront fees in violation of the Telemarketing Sales…
…an unacceptable risk of default. Under the settlement agreement, the company will provide revised loan modification waterfall provisions to New York borrowers that include fee waivers, interest rate reductions to…
…delineate what percentage of New Yorkers were represented by that defined group. In the new settlement agreement, OAG alleges that the company failed to comply with the 2011 settlement by…
On June 11, 2020, the North Dakota Office of the Attorney General (AG) announced that it had entered into an Assurance of Voluntary Compliance agreement with a California-based debt relief…
…agreement between DOJ and SBA, there is little reason to believe that DOJ will abstain from FCA enforcement in the PPP context. Indeed, PPP enforcement generally has garnered attention from…
…led to an “inflow[] of deposits,” which have in turn expanded banks’ balance sheets. Second, banks’ balance sheets have also seen increases due to “customer draws on credit lines and…
…Mass AG alleged that the company deceptively misrepresented to consumers through its website, online advertising, and in its customer agreements, that it would be able to substantially increase consumers’ credit…
…should consider how best to serve those populations to prevent a disparate impact. For example, communicating location closures, providing multiple payment options, waiving fees for live customer service, or allowing…
…the number of complaints from consumers concerning their difficulty in reaching their lender’s customer service staff, as consumers have been faced with long hold times. According to the presentation by…
…and until it acquires a state debt-settlement provider license. In the event that the company breaches the terms of the agreement, it will be liable for a $50,000 civil penalty….
…where the credit reporting entity enters into an agreement with a consumer to defer one or more loan payments, make a partial payment, forbear any delinquent amounts, modify a loan…
…referred to generally as “gating” requirements for PPP loan applications. These standards, including prioritizing existing customers or customers without other existing lending relationships, are said to limit the identity of…
…Financial Protection Act (CFPA). Specifically, the state filed suit seeking an injunction prohibiting the lender from offering or providing usurious loans in the state of Michigan. Pursuant to the agreement,…
…America claiming that the plaintiff was unlawfully excluded from the program because it is only a depository customer without a pre-existing debt relationship with the Bank. The second case, filed…
O n March 31, 2020, the U.S. Department of Justice (DOJ) announced that it had entered into a $2.47 million settlement agreement with a national reverse mortgage lender in order…
…alleges that in making these changes, Northstar is in breach of the loan agreement, which the plaintiff alleges he would not have entered into but for Northstar’s interest rate rebate…
…action, Schneider contends that JPMorgan Chase Bank NA and related entities (collectively, JPMorgan), among other things, “submitted false certifications of compliance with the National Mortgage Settlement Agreement” in violation of…
…documentation to customers that failed to include the actual finance charge, a description of the total amount financed, and the total payment amounts. The lender also failed to include a…
…and selling loan modification and debt relief services in the state of Delaware. According to the cease and desist agreement, the companies and their principals operated a foreclosure rescue scam…