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Whalen and Swank Published in September 2016 issue of Mortgage Banking for Article: “Servicing Remains an Enforcement Target”

Goodwin’s Mike Whalen, a partner in the Technology Group and co-leader of the Fintech practice; and Levi Swank, an associate in the Financial Industry and Consumer Financial Services Litigation practices, were published in the September 2016 issue of Mortgage Banking for their article, Servicing Remains An Enforcement Target.  The article…

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Massachusetts DBO Enters Into Consent Order with Mortgage Lender Over Pre-Disbursement Interest Charges

On August 12, the Massachusetts Division of Banks made public its second quarter enforcement actions, including a consent order that it had entered into on April 21 with a California-based mortgage lender and broker concerning its alleged practice of charging borrowers per diem interest between the funding date of the loan and the date the funds…

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West Virginia Attorney General Secures $20 Million Settlement Against Debt Collector

​On March 21, the West Virginia Attorney General’s office announced​ that it had settled allegations against a debt collector over alleged violations of the West Virginia Collection Agency Act, W. Va. Code §§ 47-16-1 (“Collection Agency Act”) and the West Virginia Consumer Credit and Protection Act, W. Va. Code §§ 46A-1-101 (“WVCCPA”).  The…

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FTC Secures Temporary Restraining Order Against Debt Relief Services Provider

FTC

​On February 25, the Federal Trade Commission (FTC) announced​​ that on February 16, the U.S. District Court for the Southern District of California entered a temporary restraining order against ​a debt relief provider that allegedly ​​deceptively marketed home loan modification services and student loan modification services.  The Complaint alleged that for several months…

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West Virginia Attorney General Settles with Payday Lender for Debt Collection Calls

​On February 25, the West Virginia Attorney General’s office announced that it had reached a settlement with an Ohio payday lender, resolving allegations that the payday lender had engaged in debt collection activities that “may violate” provisions of the West Virginia Consumer Credit and ​Protection Act (WVCCPA), W. Va. Code § 46A-…

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CFPB Enters Consent Order with National Bank & Debt Collectors Over Allegedly False Affidavits

​On February 23, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into consent orders with a national bank, two of its affiliates, and two debt collection law firms over allegations that the debt collection law firms altered affidavits filed in New Jersey courts.  The consent orders allege that…

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New York Attorney General Sues and Settles With Auto Dealerships Over Credit Repair Products

​On January 20, the New York Attorney General’s Office (Attorney General) announced that it had filed a complaint against several New York auto dealerships over allegations that the dealerships sold deceptive “after-sale” products to consumers.  The lawsuit alleges that the dealerships partnered with an independent credit repair company to charge 1,426 consumers…

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HUD Files Charges Against Home Loan Modification Providers That Allegedly Targeted Hispanic Homeowners

​On January 12, the U.S. Department of Housing and Urban Development (HUD) announced that it filed administrative charges against three California home loan modification assistance companies and their employees, alleging that they targeted Hispanic homeowners by charging thousands of dollars for services that were never provided or were ineffective.  HUD’s…

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California Department of Business Oversight Launches Inquiry Into Online Lending

​On December 11, the California Department of Business Oversight (DBO) announced that it had launched an inquiry into the online lending industry, known as “marketplace lending.”  The DBO requested a wide array information from fourteen marketplace lenders, including a five-year trend data about their loan and investor funding programs, and…

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CFPB Settles with Debt Collector Over Unverified Debts

​On December 7, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a state debt collector over allegations that the debt collector, which collected telecommunications debt, reported inaccurate information to credit-reporting agencies and collected and reported debt that consumers disputed and that it could not…

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CFPB Sues Student Financial Aid Services Provider

​On October 29, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a complaint seeking a permanent injunction and other relief against a student financial aid services provider for the provider’s alleged violation of the Consumer Financial Protection Act.  The complaint alleges that the provider charged 76,000 college students and prospective…

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