Archive for September, 2015

CFPB & DOJ Reach $27M Settlement with Regional Bank over Redlining Allegations

CFPB sign

​On September 24, 2015, the CFPB and the DOJ announced a settlement with a regional bank over allegeatoins that it engaged in redlining practices in violation of the Equal Credit Opportunity Act (ECOA). According to the complaint, the bank allegedly discriminated against minorities by systematically preventing residents of certain minority neighborhoods from…

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New Hampshire AG Announces Enforcement Action Against Credit Card Payment Processors

​On September 22, 2015, the New Hampshire Attorney General’s Office announced two regional payment processing companies each had entered an Assurance of Discontinuance over alleged improper telephone solicitations. The companies allegedly contacted New Hampshire businesses repeatedly, offering credit card payment processing services. The companies also allegedly offered account monitoring and…

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Vermont AG Announces Settlement With Automobile Title Loan Company Over Alleged Illegal Interest Rates

​On September 23, 2015, the Vermont Attorney General’s Office announced a settlement with a regional automobile title loan company over allegations the company charged illegal interest rates and fees to borrowers. The company operated websites that offered automobile title loans to Vermont consumers. Consumers who were approved for the loans assigned…

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Nevada Attorney General Announces Criminal Indictments of Individuals for Mortgage Fraud Scheme

On September 22, 2015, the Nevada Attorney General’s Office announced criminal indictments of several individuals relating to a mortgage fraud scheme. The defendants, who owned and operated a regional mortgage company, allegedly promised homeowners they qualified for a federal program known as the “Neighborhood Stabilization Plan.” As alleged in the…

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