On October 12, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it filed suit against two debt-relief companies and their owners, and a third company that processed payments for and provided other services in connection the debt-relief providers. The complaint alleges violations under the Consumer Financial Protection Act of…
On October 17, 2017, the Federal Trade Commission (FTC) announced that it obtained a $4.1 million default judgment from the U.S. District Court for the District of Kansas against a phony debt collection operation that sold lists of fake payday loan debts to debt collectors. According to the FTC, the operation harassed consumers for debts…
On October 5, 2017, the Pennsylvania Attorney General’s Office (AG) announced that it had filed suit against a federal student loan provider and servicer (and its subsidiary) in the U.S. District Court for the Middle District of Pennsylvania, alleging violations of the Consumer Financial Protection Act (CFPA) and Pennsylvania Unfair Trade Practices and Consumer…
As Enforcement Watch reported in late September, the Consumer Financial Protection Bureau (“CFPB”) announced that it had filed a proposed consent judgment in the United States District Court for Delaware to resolve claims relating to the servicing and debt collection activities on a portfolio of about 800,000 student loans. Under the proposed settlement agreement, the student loan trusts…