Search Results: CFPA

CFPB Files Suit Against California Debt Collectors

On September 8, 2020, the Consumer Financial Protection Bureau (CFPB) announced it filed a complaint against a group of California-based debt collection companies and their subsidiaries.  The complaint, filed in the Southern District of California, alleges the defendants violated the terms of a 2015 consent order (the Order) with the…

Read More

CFPB Enters Into Consent Order With VA Lender Over Alleged UDAAP Violations

On August 26, 2020 the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based mortgage lender, resolving allegations that the company violated the Consumer Financial Protection Act (CFPA) and Truth in Lending Act (TILA) by engaging in deceptive acts and practices with…

Read More

CFPB Settles Another Case With Mortgage Company Over Allegedly Deceptive VA Loan Advertisements

On August 21, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had a reached a settlement with a California-based lender, resolving allegations that the lender had sent deceptive loan advertisements to servicemembers and veterans in violation of the Consumer Financial Protection Act (CFPA), the Mortgage Acts and Practices…

Read More

CFPB Announces $1.1 Million Settlement with California-based Lenders to Resolve Allegations of Unfair and Deceptive Practices

On July 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it entered consent orders (here and here) against two California-based mortgage lenders, resolving allegations that the lenders violated the Truth in Lending Act (TILA), 15 U.S.C. §§ 1601–1667f, and its implementing regulation, Regulation Z, 12 C.F.R. § 1026.24;…

Read More

CFPB Settles with Three Companies Over Alleged UDAAP and FCRA Violations

On June 23, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with three companies that issued contracts for deeds with consumers.  According to the CFPB, between 2010 and 2016, these companies allegedly had a business plan of acquiring foreclosed properties in bulk and reselling them to consumers through seller financing…

Read More

CFPB Settles with Lender and Student Loan Debt Relief Companies Over Alleged Misuse of Credit Reports

On May 14, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a proposed stipulated judgment and final order with a California-based mortgage lender and several affiliated individuals and companies (collectively, the “lender”) resolving allegations that the lender had obtained consumer credit reports for an improper…

Read More

CFPB Settles with Colorado Mortgage Servicer for $1.52M for Alleged RESPA Violations

On May 11, 2020, the Consumer Financial Protection Bureau (CFPB) settled with a Colorado-based mortgage servicer that serviced a portfolio of mortgage loans worth approximately $112.69 billion.  According to the CFPB, the Bureau found that the servicer violated the Real Estate Settlement Procedures Act (RESPA), 12 U.S.C. § 2601 et seq., and its implementing…

Read More

CFPB Announces $1.3 Million Settlement With Short-Term Lender Resolving Allegations of Unfair and Deceptive Practices

On April 1, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an installment-loan lender, resolving allegations that the lender violated the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531(a), 5536(a)(1)(B), Fair Credit Reporting Act (FCRA), 15 U.S.C. §§ 1681 et seq….

Read More