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DOJ Reaches $1.5 Million Settlement with Auto Lender Resolving Alleged SCRA Violation

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…

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California DFPI Issues $375,000 Sanction Against Debt Collector

​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…

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CFPB Sues Software Company for Allegedly Supporting Illegal Credit-Repair Fees

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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…

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DOJ Reaches $50,000 Settlement with NJ Higher Education Student Assistance Authority

​On September 20, 2021, the Department of Justice (DOJ) announced that it rea​ched 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…

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DOJ and OCC Obtain $5.5 Million Settlement, Resolving Allegations of Lending Discrimination

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…

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California Settles with Online School for Allegedly Deceptive Financing Practices

On April 26, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a settlement agreement with an online coding school, resolving allegations that the school engaged in deceptive acts and practices in violation of California’s new Consumer Financial Protection Law (CCFPL). The school offers its…

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FTC Settles with California-Based Mobile Banking App Over Interest Rates and Access to Funds

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On March 29, 2021, the Federal Trade Commission (FTC) announced that it had reached a settlement ​with a California-based mobile banking app, resolving allegations that the company had misled consumers about their ability to access their funds and the interest rates they would receive on their accounts. As we reported ​in November of last year, the FTC alleged…

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HUD Approves Settlement with Mortgage Lender Resolving Claims of Lending Discrimination

On March 19, 2021, the U.S. Department of Housing and Urban Development (HUD) announced ​that it approved a settlement with a national mortgage lender concerning allegations that the mortgage lender discriminated against a consumer in violation of the Fair Housing Act (FHA) when it denied the consumer’s mortgage loan application. The consumer filed a complaint with HUD…

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