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Massachusetts DOB Enters Consent Order With Company for Unlicensed Mortgage Lending and Illegal Fees

On May 11, 2017, the Massachusetts Division of Banks (DOB) entered into a consent order with a Massachusetts residential mortgage lending company, alleging that, between January 2013 and December 2016, the company engaged in unlicensed residential mortgage lending and charged fees in violation of Massachusetts law, and failed to comply with the Real…

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Massachusetts DOB Issues Findings of Fact and Temporary Cease and Desist Order Against Loan Servicing Company

On April 20, 2017, the Massachusetts Division of Banks (DOB) issued Findings of Fact and a Temporary Order to Cease and Desist against a loan servicing company, alleging that the company engaged in residential mortgage loan servicing practices that violate state and federal laws, and failed to meet the requirements…

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Massachusetts Commissioner of Banks Enters Into Consent Order with Motor Vehicle Sales Finance Company

​On March 24, 2017, the Massachusetts Commissioner of Banks (“Commissioner”) entered into a consent order with a licensed motor vehicle sales finance company, agreeing to refrain from further violations of Massachusetts state law governing the conduct of motor vehicle sales financing.  The consent order came after the Commissioner examined the company and subsequently issued a…

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New York AG Settles with Retail Financing Company that Allegedly Lured Servicemembers into Revolving Credit Contracts

On March 22, 2017, the New York Attorney General’s Office (“New York AG”) announced that it had entered into a $540,000 settlement with a Virginia retailer and financing company that allegedly used deceptive practices to lure military servicemembers into financing agreements for the purchase of consumer goods. The New York AG alleged that the companies sold servicemembers…

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