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Credit Reporting Company to Pay CFPB $8 Million for FCRA Violations

​On December 3, the Consumer Financial Protection Bureau (CFPB) entered a consent order with a national credit reporting company, resolving allegations that the company violated the Fair Credit Reporting Act (FCRA). The credit reporting company is in the business of compiling and reselling consumer credit reports to financial service providers, such as…

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Mortgage Lender Settles with DOJ for Allegedly False FHA Loans

​On December 1, the U.S. Attorney for the District of Colorado, working on behalf of the U.S. Department of Housing and Urban Development (HUD), announced a settlement agreement with a residential mortgage lender originating and underwriting loans insured by HUD’s Federal Housing Administration (FHA).  The settlement resolves allegations that, between January 2007…

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Debt Collectors Enter Consent Orders with CFPB for FDCPA Violations

​On September 9, the Consumer Financial Protection Bureau (CFPB) announced that it entered into consent orders with two large debt purchasers for alleged violations of the Fair Debt Collection Practices Act, Consumer Financial Protection Act, and Fair Credit Reporting Act.  CFPB alleged that the companies purchased debts that they knew or…

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Kentucky AG Secures $11.2 Million Settlement from For-Profit College

​On September 10, Kentucky Attorney General (KY AG) Jack Conway announced a settlement with a for-profit college, resolving claims that the school violated the state Consumer Protection Act.  The state alleged that the college violated the statute by denying students financial aid to purchase textbooks at bookstores other than its own; misrepresenting…

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DC AG Seeks Penalties from Debt-Purchasing Company for Collecting on Illegal Interest Rates

On September 9, the District of Columbia Attorney General announced that it filed a complaint in D.C. Superior Court against a debt-purchasing company, its wholly-owned subsidiary, and their principal, for violations of the District’s debt collection and usury laws.  The complaint alleges that the company purchased loans from a company that has since gone out…

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Reverse Mortgage Servicing Company Settles False Claims Act Allegations with HUD for $29.63 Million

On September 3, a reverse mortgage servicing company settled alleged violations of Federal Housing Administration (FHA) regulations with the U.S. Department of Housing and Urban Development (HUD). In July 2013, an individual brought a qui tam action in the U.S. District Court for the Middle District of Florida pursuant to the False Claims…

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CFPB Issues Consent Order Against National Servicer for Unfair Mortgage Practices

On July 30, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a national mortgage servicing company, resolving claims that the servicer engaged in unfair and deceptive practices in violation of the Consumer Financial Protection Act.  The CFPB alleged that the servicer failed to honor modifications…

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Co-Conspirators Plead Guilty in Connection with Mortgage Modification Scam

On July 29, the United States Attorney for the Southern District of New York announced that co-conspirators in a mortgage modification scam pled guilty to conspiracy and fraud.  The defendants, through a mortgage modification company, collected fees from residential mortgage holders and promised consumers that the company would either secure them a mortgage modification…

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