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

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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CFPB Announces Settlement with Short-term Lenders, Resolving Allegations of Unfair and Deceptive Acts and Practices

​On June 2, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had reached a settlement with multiple related companies based in Tennessee that offer payday and auto-title loans. The CFPB alleged that the companies made deceptive disclosures, failed to refund overpayments on its loans, and engaged in unfair…

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DOJ Settles False Claims Act Allegations Against Reverse Mortgage Lender for $2.47 Million

​On March 31, 2020, the U.S. Department of Justice (DOJ) announced that it had entered into a $2.47 million settlement agreement with a national reverse mortgage lender in order to resolve allegations that the bank’s predecessor entity had failed to meet the Department of Housing and Urban Development’s (HUD) criteria in originating and…

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CFPB Announces $1.3 Million Settlement With Short-Term Lender Resolving Allegations of Unfair and Deceptive Practices

On April 1, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an installment-loan lender, resolving allegations that the lender violated the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531(a), 5536(a)(1)(B), Fair Credit Reporting Act (FCRA), 15 U.S.C. §§ 1681 et seq….

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