Search Results for:

CFPB Settlement with Military Travel Loan Lender, Servicer Results in $3.5 Million "Suspended Judgment"

On November 25, 2019, the Consumer Finance Protection Bureau (CFPB) filed concurrent consent orders against a Kentucky-based military travel loan lender (here) and its loan servicer (here). The lender sold and financed airline tickets to military servicemembers and their families from 2010-2016​ by both facilitating financing by other creditors and originating loans itself.  The CFPB…

Read More

Finance Company to Pay $440,000, Banned from Selling Student Loan Services in Massachusetts

On August 7, 2019, the Attorney General for the Commonwealth of Massachusetts (“Massachusetts AG”) announced that it filed a complaint and consent judgment in Suffolk County Superior Court.  The consent judgment bans a purportedly unlicensed finance company from collecting on any active student loan debt relief accounts in Massachusetts, and requires the company to pay $340,000 to repair the credit of…

Read More

CFPB Settles with Mortgage Lender for Alleged HMDA Violations

On June 5, 2019, the Consumer Financial Protection Bureau (CFPB) announced​ that it has reached a settlement with one of the nation’s ten largest Home Mortgage Disclosure Act (HMDA) reporters, a for-profit mortgage lender based in New Jersey.  The consent order resolves alleged violations of the HMDA, 12 U.S.C. §§ 2801–2810, and its implementing​ regulation,…

Read More