Search Results: test CFPA

CFPB Settles $25 Million Lawsuit with Debt Settlement Provider

On July 9, 2019, the Consumer Financial Protection Bureau (CFPB) announced that it settled its lawsuit against the nation’s largest debt-settlement services provider for allegedly engaging in deceptive debt-settlement acts or practices. The company agreed to pay $20 million in restitution to affected consumers and a $5 million civil money penalty….

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CFPB and 45 State AGs Obtain $168 Million in Student Debt Relief

​On June 14, 2019, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a private student loan provider that issued and managed student loans at the now-defunct for-profit ITT Technical Institute. Forty-five states including Kansas, Florida, Nevada, North Carolina, Iowa, Missouri, Kentucky, Ohio, Oregon, and New York also settled with the loan…

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CFPB Files Suit Against Credit Repair Companies for Alleged Misrepresentations & Upfront Fees

​On May 2, the Consumer Financial Protection Bureau (CFPB) filed suit in the District of Utah against defendants operating two of the largest credit repair companies in the country, alleging that the companies engaged in deceptive acts and practices in violation of the Consumer Financial Protection Act (CFPA) and Telemarketing Sales Rule (TSR)….

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CFPB Announces $3.2 Million Settlement with Online Payday Lender

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…

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CFPB Announces $1 Settlement With Military Pension-Advance Broker

​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….

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CFPB Enters Into $15.5 Million Consent Order with Bank Over Stop Payment and Error Resolution Practices

​On January 3, 2018, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a $15.5 million consent order with a federally-chartered savings association bank.  The consent order resolves allegations that the bank violated the Electronic Fund Transfer Act (EFTA) and Consumer Financial Protection Act (CFPA) between 2011 and 2016. Specifically, the CFPB…

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CFPB Settles Claims That Company Failed to Disclose Auto Loan Add-On and Extension Terms

​On November 20, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a Texas-based financial services company, resolving allegations that the company violated sections 1031 and 1036 of the Consumer Financial Protection Act of 2010 (CFPA), 12 U.S.C. §§ 5531, 5536​. Specifically, the CFPB alleged that the company engaged in deceptive…

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CFPB Announces Settlement with Tennessee Small Dollar Lender

On October 24, 2018, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a Consent Order with a Tennessee-based small dollar lender, resolving allegations that the lender had committed deceptive acts and practices in violation of ​the Consumer Financial Protection Act (“CFPA”), 12 U.S.C. §§ 5531, 5536(a)(1)​​(B).  The Consent Order…

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