On November 12, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint in the United States District Court for the Northern District of Texas against two pawnshop lenders, alleging violations of the Military Lending Act (MLA), 10 U.S.C. § 987. Under the MLA, consumer credit extended to military servicemembers may…
On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade Commission Act (FTC Act) and the Telemarketing Sales Rule (TSR) by facilitating payments related to an unlawful student…
On September 30, 2021, the Department of Justice (DOJ) announced that it reached a settlement with an auto lender, resolving allegations that the lender violated the Servicemembers Civil Relief Act (SCRA). Following an investigation which began in 2019, the DOJ filed a complaint that same day in the United States District Court for the Northern…
On September 29, 2021, the Department of Justice (DOJ) announced that it reached a settlement with a California-based auto lender, resolving allegations that the lender violated the Servicemembers Civil Relief Act (SCRA). In a simultaneously-filed complaint filed in the United States District Court for the Central District of California, the DOJ…
On September 22, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it issued its first enforcement action against a debt collection company for various practices, including threatening to sue consumers and garnish wages, and for submitting negative information to credit bureaus without first providing required notice, in violation…
On September 20, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in the U.S. District Court of the Central District of California against a California-based software company and its owner. The complaint alleges that the software company violated the Telemarking Sales Rule (TSR) and Consumer Financial…
On September 20, 2021, the Department of Justice (DOJ) announced that it reached a settlement with the New Jersey Higher Education Student Assistance Authority (HESAA), resolving allegations that the state agency unlawfully obtained default judgments against two military servicemembers for student loan debt in violation of the Servicemembers Civil Relief Act (SCRA). In a…
On September 7, 2021, the Massachusetts Attorney General (AG) announced that it reached a settlement with a debt collection company, resolving allegations that the company engaged in unfair and deceptive debt collection practices in violation of state law. In particular, the company is alleged to have (1) initiated more than two…
On August 30, 2021, the Department of Justice (DOJ) announced that, together with Office of the Comptroller of the Currency (OCC), it reached a settlement with a bank, resolving allegations that the bank engaged in lender discrimination in the Houston, Texas area. In 2017, the OCC initiated a fair lending examination…
On April 27, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a reverse mortgage broker and lender, resolving allegations that the company violated the Mortgages Acts and Practices Advertising Rule (MAP Rule), Regulation Z, and the Consumer Financial Protection Act (CFPA)…