Search Results: CFPA

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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CFPB Enters Into Consent Order with Affiliated Education Financing Companies

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​On September 7, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a group of affiliated education financing companies that provided students with income share agreements (ISAs) to finance postsecondary education.  The consent order resolves allegations that the companies violated ​the Consumer Financial Protection Act (CFPA), Regulation Z…

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CFPB Files Complaint and Proposed Order Against Debt Relief and Credit Repair Company, Seeking Permanent Ban

On June 29, 2021, the Consumer Financial Protection Bureau (CFPB) announced it filed a proposed stipulated order with a Maryland-based debt relief and credit repair company concerning alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). If accepted by the court, the order would ban the company and its…

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Auto Lender Enters Into Consent Order with CFPB

​On May 21, 2021, the Consumer Financial Protection Bureau (CFPB) announced​ that it ​entered into a consent order​ and stipulation with​ a California-based company that services subprime auto loans originated by car dealers.​ According to the consent order and stipulation, the CFPB ​found that the company engaged in unfair acts or practices by charging interest on late payments related to loss damage waiver fees,…

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CFPB and Debt Settlement Company Agree to Stipulated Final Judgment and Order

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​On May 17, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it has entered​ into a stipulated judgment​ and order​ to resolve a civil action that it previously filed against a debt settlement company in the U.S. District Court for the District of Massachusetts on December 1, 2020, as previously reported he​​re. ​The CFPB initially filed suit against the debt settlement company…

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CFPB Settles with Online Debt-Settlement Company for Alleged CFPA and TSR Violations

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On April 13, 2021 the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with an online debt-settlement company to resolve alleged violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531, 5536(a), 5564, 5565, and the Telemarketing Sales Rule (TSR), 6 C.F.R. Part 310. According to the complaint, the…

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CFPB Announces $860,000 Settlement with Debt Collection Company for Alleged Deceptive Practices and CFPA Violations

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​On April 6, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a third-party debt collection company and its former owner for alleged violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531, 5536 and Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et ​​seq. The CFPB alleged that…

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