On August 28, 2019, the Consumer Financial Protection Bureau (CFPB) announced a settlement with an Illinois-based debt collection company, resolving allegations that the company engaged in deceptive practices in violation of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531 and 5536, and the Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. §…
On August 14, 2019, the Consumer Financial Protection Bureau (CFPB) and the Office of the Arkansas Attorney General (AG) entered into a proposed stipulated final judgment with three corporations that brokered extensions of credit to consumers, and the co-founder and owner of one of the corporations. The simultaneously filed complaint, filed…
On August 12, 2019, the Consumer Financial Protection Bureau (CFPB) announced a proposed settlement with a for-profit higher-education institution. The CFPB filed a complaint against the institution in the U.S. District Court for the Southern District of Indiana on February 26, 2014, alleging that the institution had violated the Consumer…
On July 25, 2019, the Consumer Financial Protection Bureau (“CFPB”) and the New York Attorney General (“New York AG”) announced that they have filed two proposed settlements with three debt collection companies and two individuals who conducted business together in Buffalo, New York. The proposed settlements were filed in the U.S. District Court for…
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….
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…
On May 1, the Consumer Financial Protection Bureau (CFPB) announced a $3.9 million settlement with a student loan servicer, resolving allegations that the servicer engaged in unfair acts or practices in violation of the Consumer Financial Protection Act (CFPA). The parties’ consent order resolves allegations that the servicer failed to timely…
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)….
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…
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….