Archive for August, 2020

CFPB Enters Into Consent Order With VA Lender Over Alleged UDAAP Violations

On August 26, 2020 the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based mortgage lender, resolving allegations that the company violated the Consumer Financial Protection Act (CFPA) and Truth in Lending Act (TILA) by engaging in deceptive acts and practices with…

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CFPB Settles Another Case With Mortgage Company Over Allegedly Deceptive VA Loan Advertisements

CFPB sign

On August 21, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had a reached a settlement with a California-based lender, resolving allegations that the lender had sent deceptive loan advertisements to servicemembers and veterans in violation of the Consumer Financial Protection Act (CFPA), the Mortgage Acts and Practices…

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For-Profit College Ordered to Pay $3 Million in Civil Penalties for Engaging in Deceptive Student Lending Practices

Piggy Bank with a Graduation Cap

On August 21, 2020, Colorado’s Attorney General announced that the Denver District Court ruled in the state’s favor and found that a for-profit college violated the Colorado Consumer Protection Act (“CCPA”) and the Uniform Consumer Credit Code (“UCCC”) in operating its institutional loan program. The matter was initiated after a two-year investigation that…

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Pennsylvania AG Halts Bank’s Allegedly Aggressive Auto Loan Debt Collection Practices

On August 19, 2020, the Pennsylvania Office of the Attorney General announced that it had entered into a voluntary compliance agreement with a regional bank to stop allegedly aggressive auto loan debt collection practices. The agreement arose out of allegations made by the Pennsylvania AG that the bank engaged in unfair and manipulative practices,…

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Vermont AG Settles with Auto Financing Company Regarding Unfair or Deceptive Practices

​On August 12, 2020, the Vermont Attorney General (Vermont AG) announced a settlement with an auto financing company related to alleged unfair or deceptive practices concerning the company’s subprime auto loans​. According to the Vermont AG’s complaint, filed on August 7, 2020, the company engaged in unfair and deceptive practices in violation of the Vermont Consumer Protection Act, 9…

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Pennsylvania AG Settles with Student-Loan Debt-Relief Consumer Financing Company

​On August 4, 2020, the Pennsylvania Office of Attorney General (Pennsylvania AG) announced that it reached a settlement with a company providing financing to consumers seeking student-loan debt relief. According to the Pennsylvania AG, the company violated the Pennsylvania Consumer Protection Law and the federal Truth in Lending Act (TILA) through its alleged…

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