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CFPB Sues Connecticut-Based Mortgage Lender

​On January 15, 2021, the Consumer Financial Protection Bureau (CFPB) announced it had filed suit in the United States District Court for the District of Connecticut against a Connecticut-based mortgage company and three individual defendants for alleged violations of the Truth in Lending Act (TILA)​, the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act…

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Minnesota AG Settles with Student Loan Debt-Relief Company for Allegedly Unlawful Fee Collection

On January 14, 2021, Minnesota Attorney General Keith Ellison (Minnesota AG​​) announced that his office reached a settlement with a California-based student loan debt-relief company that allegedly collected unlawful fees from customers and made misrepresentations to them regarding its ability to forgive student loans. According to the Minnesota AG, the company allegedly made false promises to…

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FTC Reaches Settlement with California-Based Student Loan Debt Relief Companies

​On November 19, 2020, the Federal Trade Commission (FTC) announced that it had reached a settlement with three California-based student loan debt relief companies and their founder after they allegedly misled consumers by falsely promising that their monthly payments would go toward lowering their student loan debt. ​The complaint, filed in the U.S. District Court for the Northern District…

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FTC Files Complaint Against California-Based Mobile Banking App

​On November 18, 2020, the Federal Trade Commission (FTC) announced​ ​that it had filed a complaint ​against a California-based mobile banking app and its founder and CEO for allegedly falsely misrepresenting to users that they would receive high interests rates on their banking accounts and that they would have constant access to their funds. According to the complaint,…

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CFPB Settles with Telecommunications Debt Collector for Alleged FCRA and CFPA Violations

On November 12, 2020, the Consumer Financial Protection Bureau (CFPB) announced ​​that it had entered into a consent order with an Illinois-based debt collector that collects debts on behalf of telecommunications companies and furnishes consumer-account information to credit reporting agencies. The CFPB alleged that the debt collector violated the Fair Credit Reporting Act (FCRA) and the…

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