Archive for September, 2016

Massachusetts AG Settles Abusive Debt Collection Claims Against Mortgage Servicer

On September 28, the Massachusetts Attorney General’s Office announced that it had entered into a settlement with a national mortgage servicer to resolve allegations that the servicer had engaged in abusive debt collection practices affecting over 5,000 Massachusetts consumers.  The assurance of discontinuance, filed in Suffolk County Superior Court, alleged…

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Student Loan Company Ordered to Stop Doing Business in Kentucky

On September 27, 2016, the Kentucky Attorney General announced that on September 15, 2016, a Franklin Circuit Judge ordered a Florida-based student loan company to cease all operations in Kentucky.  The Attorney General’s lawsuit was filed after the Attorney General launched an investigation “into the company’s potentially misleading college loan forgiveness claims aimed…

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CFPB and California DBO Settle with Online Lender Over Alleged Misrepresentations

On September 27, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an online lender, after a joint investigation with the California Department of Business Oversight (DBO), over allegations that the lender deceptively marketed its loan products and hid the true cost of credit…

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Former Debt Collection Company VP Ordered to Pay Penalty and Stop Deceptive Debt Collection Practices

FTC

On September 21, the Department of Justice (DOJ) announced that the U.S. District Court for the Eastern District of Texas entered a stipulated order for a permanent injunction and civil penalty judgment against the vice president of a debt collector. Following an investigation of the debt collector by the Federal Trade Commission,…

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CFPB Brings Administrative Lawsuits Against Five Arizona Title Lenders

CFPB sign

On September 21, the Consumer Financial Protection Bureau (CFPB) announced that it filed five individual administrative lawsuits against Arizona title lenders. Each suit concerns allegations that the title lenders’ online advertisements failed to disclose title annual percentage rates, in violation of the Truth in Lending Act.  Instead, the Bureau alleged, the companies…

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