Archive for March, 2022

CFPB Orders Student-Loan Servicer to Pay $1 Million Penalty and Remedy Miscommunications

On March 30, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a student-loan servicer for alleged deceptive acts and practices in violation of the CFPA, 12 U.S.C. §§ 5531(a), 5536(a)(1)(B). The CFPB alleged that the servicer made deceptive statements to student loan borrowers and misrepresented their…

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Court Enjoins Credit Repair Company From Making Misrepresentations to Consumers

On March 21, 2022, the Department of Justice (DOJ) announced that it obtained a permanent injunction against a credit repair company and its CEO, barring the company from making representations that it can improve consumers’ credit scores.  The injunction was issued by the United States District Court for the Southern District of Texas in relation…

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Credit Union Enters Into Consent Order with U.S. Attorney's Office Over Alleged SCRA Violations

On March 11, 2022, the U.S. Attorney’s Office (USAO) for the Eastern District of Virginia filed a consent order and settlement with a Virginia-based credit union for alleged violations of the Servicemembers Civil Relief Act (SCRA). The lawsuit, filed in U.S. District Court for the Eastern District of Virginia, alleged that the defendant unlawfully charged…

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