On July 28, 2022, the Consumer Financial Protection Bureau (CFPB) issued a Consent Order against a large bank (the Bank), claiming that the Bank created sales pressure on its employees that encouraged employees to illegally access customer credit reports and to open checking and savings accounts, credit cards, and lines…
On August 16, 2022, the Pennsylvania Attorney General announced that a group of attorneys general for the Commonwealth of Pennsylvania, the States of New Jersey, Oregon, Utah, and Washington, and the District of Columbia (collectively, “the AGs”) had filed a multistate lawsuit against a personal lending company for allegedly charging consumers for “hidden add-on products” in violation of various…
On August 10, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a California Fintech company for allegedly engaging in deceptive acts and practices in violation of the Consumer Financial Protection Act. According to the CFPB, the company offered an automatic savings tool to customers through which customers would grant the…
On August 3, 2022, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with a Florida-based lending company that allegedly made “illegal loans.” Specifically, the consent order alleges that the company’s policy of making “buy now, pay later” arrangements for point-of-sale transactions qualified as “loans,” subjecting…
On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint and proposed consent order in a federal district court alleging that a mortgage company intentionally discriminated against families living in majority-minority neighborhoods around Philadelphia in violation of the Fair Housing Act…