Search Results: test CFPB

CFPB and 47 States Enter Settlement with Holder of Private Student Loans for Allegedly Providing Substantial Assistance in For-Profit Educator's Unfair Practices

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…

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CFPB Continues Streak of Consent Orders With VA Mortgage Lenders for Deceptive Practices

On September 2, 2020, the Consumer Financial Protection Bureau (CFPB) announced it had entered into a consent order with a Delaware-based VA-mortgage lender, resolving allegations that the company had engaged in deceptive practices against servicemembers and veterans.  The CFPB found that since April 2018 the Company had mailed current and former servicemembers misleading advertisements…

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CFPB Issues Consent Order Against Maryland-Based Mortgage Lender for Deceptive Practices Related to VA Loans

On September 1, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had issued a consent order against a Maryland-based corporation offering VA-guaranteed loans in twelve states.  According to the consent order, the CFPB found the company had sent consumers millions of advertisements containing deceptive or misleading statements and inadequate disclosures, in violation of…

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CFPB Issues Yet Another Consent Order Against Lender for Deceptive Practices Related to VA Loans

On September 1, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had issued a consent order against a Miami-based lender based on its deceptive advertisements to servicemembers and military veterans through direct-mail campaigns in eight states. According to the consent order, the CFPB found that the company had included false, misleading, and inaccurate…

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CFPB Settles with Mortgage Company to Address Deceptive Loan Advertisements Sent to Servicemembers and Veterans

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…

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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…

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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…

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