Search Results for:

Vermont AG Settles Lawsuit with California Student Loan Debt Consolidation Company

On November 18, 2016, the Attorney General for the State of Vermont (Vermont AG) announced that it had entered into a settlement with a California student loan debt consolidation company related to the company’s business of helping consumers consolidate their loans to reduce their student loan debt.  As part of the settlement, the…

Read More

Four California Residents Jailed and to Pay $7 Million in Restitution for Debt Relief Scheme

On November 14, 2016, the Department of Justice (DOJ) and U.S. Postal Inspection Service announced that four California individual defendants were sentenced for their participation in an allegedly fraudulent debt relief scheme.  The defendants all worked for two companies in Orange County, California that offered to settle credit card debts.  According to the DOJ,…

Read More

HUD OIG Announces PFCRA Settlement with FHA Lender

On September 29, 2016, the U.S. Department of Housing and Urban Development (HUD) and its Office of Inspector General (HUD OIG) announced a settlement with a mortgage lender relating to two audits of the lender’s Federal Housing Administration (FHA) insured loans. The audits allegedly determined that the lender underwrote FHA-insured loans with…

Read More

DOJ Files Suit Against California Lenders Alleging Discriminatory Loan Modification Scheme

On August 23, 2016, the Department of Justice (DOJ) announced the filing of a lawsuit in the United States District Court for the Northern District of California against several California-based mortgage loan modification service providers.  The complaint alleges that defendants violated the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA)…

Read More

CFPB and National Bank Reach $32.25 Million Settlement Regarding Credit Card Add-On Products

On August 25, 2016, the Consumer Financial Protection Bureau (CFPB) announced an order against a national bank that will require the bank to pay $32.25 million in consumer relief and civil penalties based on practices relating to credit card add-on products.  These practices allegedly violated sections 1031 and 1036(a)(1)(B) of the Consumer Financial Protection Act…

Read More