Archive for July, 2020

Massachusetts AG Settles with For-Profit Education Services Debt Buyer

On July 30, 2020, the Massachusetts Attorney General (Massachusetts AG) announced a settlement with a Nevada-based debt buyer regarding a portfolio of loan debt it purchased from a for-profit education company. The settlement resolves the Massachusetts AG’s allegations that, between 2010 and 2016, the for-profit education​ company​​ ​misled students by…

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CFPB Announces $1.1 Million Settlement with California-based Lenders to Resolve Allegations of Unfair and Deceptive Practices

CFPB sign

On July 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it entered consent orders (here and here) against two California-based mortgage lenders, resolving allegations that the lenders violated the Truth in Lending Act (TILA), 15 U.S.C. §§ 1601–1667f, and its implementing regulation, Regulation Z, 12 C.F.R. § 1026.24;…

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