Archive for November, 2019

CFPB Settlement with Military Travel Loan Lender, Servicer Results in $3.5 Million "Suspended Judgment"

On November 25, 2019, the Consumer Finance Protection Bureau (CFPB) filed concurrent consent orders against a Kentucky-based military travel loan lender (here) and its loan servicer (here). The lender sold and financed airline tickets to military servicemembers and their families from 2010-2016​ by both facilitating financing by other creditors and originating loans itself.  The CFPB…

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FTC Files Suit and Obtains Temporary Restraining Order Against Alleged Student Loan Debt Relief Scam

FTC

On November 12, 2019, the Federal Trade Commission (FTC) announced that on it had filed a lawsuit against a collection of interrelated companies and individual defendants for allegedly misrepresenting themselves as affiliated with the Department of Education in order to convince consumers to sign up for student loan debt relief. The…

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Massachusetts AG Announces Settlement with Debt Buyer for Alleged Abusive Debt Collection Practices

On November 11, 2019, the Massachusetts Attorney General’s Office (AG) announced that it had settled an investigation against a national debt buyer and collector for alleged violations of Massachusetts’ consumer protection law and debt collection regulations through its debt-collection practices. Specifically, the AG alleged that the debt collector pressured debtors…

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