On November 4, 2016, the Ohio Attorney General’s office (AG) announced it filed a complaint against a California-based mortgage-relief services provider and its director (Defendants) alleging violations of Ohio’s consumer protection laws. The complaint alleges that the provider sent advertisements to Ohio residents stating that the company has helped consumers to “receive payment…
On November 3, the Consumer Financial Protection Bureau (CFPB) announced that it filed suit against a Virginia pawnbroker, alleging that the pawnbroker violated the Truth in Lending Act (TILA) and Consumer Financial Protection Act (CFPA) by failing to disclose an annual percentage rate (APR) on its closed-end pawn contracts. According…
At the end of October, the Office of the Comptroller of the Currency (“OCC”) released its Recommendations and Decisions for Implementing a Responsible Innovation Framework (the “Recommendations”). The Recommendations are the latest step in a long process the OCC has undertaken to try to revamp its approach to new financial…
On November 3, the Minnesota Attorney General (AG) announced that it had settled a 2013 lawsuit it had filed against a California-based online personal loan lender. The AG alleged that the lender used a front company that falsely claimed to be affiliated with a Native American tribe and originated loans whose…
On November 2, the New York Attorney General (AG) announced a $1.6 million settlement with a debt settlement company and its principal, resolving allegations that the company violated New York’s deceptive and unlawful practices law by engaging in fraudulent, deceptive, and illegal business practices in connection with loan modification and…
On November 2, the Consumer Financial Protection Bureau (CFPB) and New York Attorney General (AG) announced the filing of a complaint in the United States District Court for the Western District of New York against participants in a purported New York-based nationwide debt collection scheme. According to the complaint, the…
On November 3, 2016, the Georgia Attorney General’s Office (Georgia AG) announced that affiliated online payday lenders will suspend collections on approximately $6.5 million in loans following a Georgia Supreme Court ruling that state law applied to the online payday lenders. As a result of that ruling, the Georgia AG’s case currently…
On October 13, 2016, the United States District Court for the Southern District of Florida denied class certification in a Telephone Consumer Protection Act (“TCPA”) suit. In Newhart v. Quicken Loans Inc., Case No. 9:15-cv-81250, the plaintiff alleged that he received a number of calls on his cell phone from…
On October 31, the United States District Court for the Western District of New York granted the Federal Trade Commission’s (FTC) motion for summary judgment against a group of debt collectors, finding that the debt collectors violated the Federal Trade Commission Act (FTCA) and Fair Debt Collection Practices Act (FDCPA)….
On November 1, 2016, the U.S. Attorney’s Office for the Southern District of New York (U.S. Attorney) announced that the owner, president, and chief executive officer of a debt collection company pleaded guilty to orchestrating a scheme to coerce thousands of consumers across the country into making debt payments through false threats and…