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…
On November 15, 2018, the Virginia Attorney General’s office (“Virginia AG”) announced that it had secured more than $50 million in debt relief and civil penalties as a result of its lawsuit brought under the Virginia Consumer Protection Act against two affiliated loan companies and their owner (the “Defendants”) in…
On October 4, 2018, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with online retailer and its subsidiaries that sells products through revolving-credit accounts and installment-credit accounts, and then sells charged-off account to third-party debt collectors. The consent order resolves the CFPB’s allegations…
On September 28, 2018, the United States Attorney’s Office for the Northern District of California (USAO) announced a civil settlement with an online peer-to-peer lender over allegations that it made false statements to its loan originator, resulting in the origination of over 200 loans to consumers who did not satisfy…
On September 21, 2018, the Attorney General for the State of Washington announced a lawsuit against three debt collection agencies and their owner, alleging that they violated the state’s Collection Agency Act, RCW 19.16.100 et seq., and the state’s Consumer Protection Act, RCW 19.86.010 et seq. The complaint, filed in…