On July 19, 2019, the Georgia Attorney General’s Office (AG) announced that it had entered into a settlement with a company allegedly offering unlawful and deceptive credit repair services in violation of the Georgia Fair Business Practices Act. According to the AG, Georgia law generally forbids the provision of credit…
On March 27, 2019, the Alabama Attorney General (“Alabama AG”), Alabama State Banking Department, and the Director of the Alabama Securities Commission announced that they filed a complaint against a Nevada-based lender and its CEO (“Defendants”) for allegedly making loans at unlawful interest rates to desperate consumers in exchange for their pension benefits in violation…
On March 19, 2019, the Office of the Comptroller of the Currency (OCC) announced that it had entered into a Consent Order with a major mortgage lender over allegations that the lender did not adequately ensure that its relationship loan pricing program was offered to all eligible customers, resulting in adverse…
On March 19, 2019, the California Department of Business Oversight (“DBO”) announced that it filed an action to void the loans and revoke the licenses of a Southern California auto title lender for repeated breaches of the state’s California Financing Law, Fin. Cod. section 22000 et seq. DBO alleges that…
On March 5, 2019, the Arizona Attorney General’s Office (Arizona AG) announced that it had filed a complaint against a California-based online payday lender, its owner, and its wholly owned subsidiary for alleged violations of the Arizona Consumer Fraud Act, A.R.S. § 44-1521 et seq. According to the complaint, the defendants marketed and…
On January 25, 2019, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an online lender that extends unsecured payday and installment loans, as well as lines of credit, resolving allegations that the lender had engaged in unfair acts or practices in violation of the Consumer Financial Protection…
On January 23, 2019, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a loan broker, resolving allegations the broker’s offering of high-interest credit to veterans on behalf of several unnamed companies had thereby violated the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531, 5536….
On January 22, 2019, the California Department of Business Oversight (DBO) announced that it had entered into a consent order with a payday lender to resolve allegations that the company violated the California Financing Law, Fin. Code Section 22000 et seq. Per the consent order, the payday lender allegedly steered borrowers into loans…
On December 28, 2018, the Attorneys General (AGs) of all 50 states and the District of Columbia announced a settlement totaling $575 million with a national bank as the result of a coordinated investigation by the States. The national bank previously entered into consent orders and settlements totaling $1 billion…
On December 27, 2018, the Massachusetts Attorney General’s Office (AG) announced that it had entered into a consent order with an auto lender, resolving allegations that the lender violated the Massachusetts Cost of Consumer Credit Disclosure Act. The AG alleged that an investigation uncovered that the lender required consumers to…