On March 23, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based credit reporting agency (CRA) and its subsidiaries, resolving allegations that the CRA deceived consumers by misrepresenting that the credit score reports that it marketed to consumers were used by lenders in determining a consumer’s credit worthiness….
On February 2, 2017, the Consumer Financial Protection Bureau (CFPB) and the Attorney General for the Commonwealth of Virginia (Virginia AG) announced the filing of a complaint and a stipulated consent order in the United States District Court for the Eastern District of Virginia against a Virginia-based pawn broker for allegedly deceiving consumers…
On February 1, 2017, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a credit card service provider and a credit card provider over a disruption of service for prepaid credit card consumers. According to the CFPB, the credit card provider marketed its prepaid credit card to consumers nationally as a way to get…
On January 30, 2017, the Consumer Financial Protection Bureau (CFPB) filed a complaint in the United States District Court for the Central District of California against several debt relief law firms and individual attorneys based in Orange County, California and Kansas City, Kansas. The CFPB brought the action under the Telemarketing and Consumer Fraud and Abuse…
On January 20, 2017, the Ninth Circuit affirmed a trial court ruling that ordered three tribal lending entities to comply with the Consumer Financial Protection Bureau’s (CFPB) civil investigative demands. The CFPB’s investigation concerns whether small-dollar online lenders or similar persons had engaged in illegal advertising, marketing, or collection practices in…
On January 23, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a mortgage servicer, resolving alleged violations of the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA), and the Consumer Financial Protection Act’s (CFPA) prohibition on deceptive acts or practices….
On January 23, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a mortgage servicer, resolving allegations that the servicer violated the Real Estate Settlement Procedures Act (RESPA) and the Consumer Financial Protection Act (CFPA). The CFPB alleged that, during 2014, the servicer informed borrowers seeking loss mitigation…
On January 19, 2017, the CFPB announced it filed a suit against a Minnesota bank, alleging the bank deceived consumers into purchasing overdraft services. The CFPB alleged that the bank, which operates throughout Minnesota, Wisconsin, Illinois, Michigan, Colorado, Arizona, and South Dakota, made it seem mandatory to purchase overdraft protection…
On January 3, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into two consent orders, available here and here, with two national credit reporting agencies over allegations that the agencies violated the Consumer Financial Protection Act by misrepresenting how lenders use certain credit scores that the agencies…
On December 20, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a mid-Atlantic financing company over allegations that the company entered into revolving-credit agreements with consumers without providing adequate disclosures. The consent order alleged that the company violated the Electronic Fund Transfer Act…