On November 5, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had filed a complaint against a Florida-based payday lender and its CEO in the Southern District of Florida. The complaint alleges that the company violated the Consumer Financial Protection Act (CFPA) by engaging in deceptive acts and practices in connection with the…
On November 2, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had entered into a consent order with a Texas-based auto lender. The CFPB alleged that the auto lender engaged in deceptive acts and practices in violation of the Consumer Financial Protection Act (CFPA) by falsely claiming that…
On October 26, 2020, the Consumer Financial Protection Bureau (CFPB) announced it had a reached a settlement with a Utah-based mortgage lender and broker, resolving allegations that the lender had engaged in deceptive acts and practices in violation of the Consumer Financial Protection Act, 12 U.S.C. §§ 5531, 5536 (CFPA),…
On October 15, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it has reached a proposed settlement with the nation’s largest debt collector. The CFPB previously reached a consent order with this company in 2015 for alleged violations of the Consumer Financial Protection Act (CFPA), Fair Debt Collection Practices Act (FDCPA),…
On October 13, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an auto finance company, alleging that the company’s repossession practices from 2013 through 2019 constituted unfair and deceptive acts and practices under the Consumer Financial Protection Act (CFPA). Specifically, the CFPB…
On September 15, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had filed a proposed stipulated judgment against a Delaware statutory trust after a settlement agreement was reached between the trust and forty-seven states plus the District of Columbia. The trust was created to purchase and hold beneficial…
On September 21, 2020, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with an auto loan servicer to resolve allegations that the company charged customers for loss damage waiver coverage without actually providing it. According to the CFPB, this practice was unfair under the Consumer Financial Protection Act,…
On September 14, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a consent order with a mortgage broker and lender that advertises and offers mortgage loans guaranteed by the United States Department of Veterans Affairs (VA) through direct-mail advertisements sent primarily to United States military…
On September 14, 2020, New York Attorney General Letitia James announced that she secured protections for thousands of student borrowers who defaulted on student loans and who were allegedly subject to misleading and unlawful actions by one of the nation’s largest debt collectors. The settlement agreement resolves an investigation of…
On September 8, 2020, the Consumer Financial Protection Bureau (CFPB) and the New York State Attorney General announced they filed a complaint against five New York debt-collection companies, along with the individual owners and managers of the firms. The complaint, filed in the Western District of New York, alleges the…