CFPB Files Complaint Against Ohio Debt Collection Law Firm Over Misrepresentations

​On April 17, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a complaint in the U.S. District Court for the Northern District of Ohio against an Ohio-based debt collection law firm, alleging violations of the Fair Debt Collection Practices Act (FDCPA) and Consumer Financial Protection Act (CFPA). The…

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Federal Banking Regulators Assess $65 Million Penalty Against Default Management Company

On January 24, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve, and the Office of the Comptroller of the Currency announced a $65 million fine assessed against a default management services company. The company’s predecessor had consented to a cease and desist order in 2011, stemming from allegations that it…

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FTC and Florida AG Ban Student Loan Debt Relief Providers

On January 24, the Federal Trade Commission (FTC) and the Florida Attorney General’s Office announced a settlement with student loan debt relief providers alleged to have participated in a student loan debt relief scheme, resolving allegations that the providers violated the Federal Trade Commission Act, Telemarketing and Consumer Fraud and Abuse Prevention Act,…

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CFPB Secures $8.8 Million Consent Order Against Mortgage Servicer

On January 23, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a mortgage servicer, resolving alleged violations of the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA), and the Consumer Financial Protection Act’s (CFPA) prohibition on deceptive acts or practices….

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CFPB Settles RESPA Claims with Mortgage Servicer for $20 Million

On January 23, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a mortgage servicer, resolving allegations that the servicer violated the Real Estate Settlement Procedures Act (RESPA) and the Consumer Financial Protection Act (CFPA). The CFPB alleged that, during 2014, the servicer informed borrowers seeking loss mitigation…

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DOJ Settles Mortgage Discrimination Lawsuit Against National Bank for $54 Million

On January 20, the  U.S. Attorney’s Office for the Southern District of New York (USAO) announced that it had settled a recently-filed lawsuit against a national bank, resolving allegations of mortgage discrimination. As previously covered by Enforcement Watch, the government alleged that from 2006 to 2009, the bank charged minority borrowers higher rates…

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National Mortgage Lender Settles False Claims Act Allegations for $48 Million

On December 28, the U.S. Department of Justice (DOJ) announced a $48 million settlement with a national mortgage lender, resolving allegations that the lender violated the False Claims Act by underwriting and endorsing Federal Housing Administration (FHA)-insured loans that failed to comply with FHA underwriting guidelines. The settlement was the result of an…

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