Search Results: CFPB

CFPB and DOJ Reach $24.4 Settlement with Mortgage Originator for Alleged Lending Discrimination

On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) announced that they reached a settlement with a nonbank residential mortgage lender to resolve allegations of race-based lending discrimination in violation of the Fair Housing Act (FHA), 42 U.S.C. §§ 3601-3619; the Equal Credit Opportunity Act…

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CFPB Settles with Auto Lender for $19 Million to Resolve Alleged FCRA Violations

​On July 26, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it settled with a California-based auto lender who purchases and services retail installment contracts and vehicle leases for an affiliated automaker.  The settlement resolves alleged violations of the Fair Credit Reporting Act (FCRA), 15 U.S.C. §§ 1681 et seq., and…

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CFPB and NY AG Reach $4 Million Settlement with Debt Collectors

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On May 23, 2022, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NY AG) announced that they have settled a case filed against six New York debt collection companies and affiliated individuals, resolving a one-and-a-half year enforcement action.  The original complaint ​was filed on September 20, 2020 in the U.S. District Court for the Western…

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CFPB Orders Debt-Relief Payment Processors to Pay $11 Million in Redress and Penalties

​On May 11, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had resolved an enforcement action against two debt-relief payment processors and one of their co-founders. The CFPB alle​ged the processors improperly collected debt relief fees from consumers, misled consumers about timing of fee payments, and sent illegal fee advancements to debt-relief companies….

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CFBP and NY AG Sue Global Payment Company

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On April 21, 2022, the Consumer Financial Protection Bureau (CFPB) anno​unced ​a joint enforcement action with the New York Attorney General (NY AG) against one of the largest international remittance providers in the United States. The seven-count complaint, filed in U.S. District Court for the Southern District of New York, challenges the Dallas-based company’s remittance…

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CFPB Files Lawsuit Against TransUnion for Deceptive Marketing

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On April 12, 2022, the Consumer Financial Protection Bureau (CFPB) announced ​that it filed a lawsuit against TransUnion and the company’s former executive.  The complaint​, filed in the U.S. District Court for the Northern District of Illinois, alleges that TransUnion violated a 2017 CFPB consent order which resolved allegations that the company deceptively marketed credit scores…

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Goodwin Webinar on CFPB Supervisory and Enforcement Priorities

On April 5th, Goodwin attorneys hosted a webinar discussing the Consumer Financial Protection Bureau’s (CFPB) changes to its supervisory and enforcement priorities with respect to unfair, deceptive, or abusive acts or practices (UDAAPs) under the Consumer Financial Protection Act (CFPA). To recap what was discussed: Download our presentation materials. Watch…

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CFPB Orders Student-Loan Servicer to Pay $1 Million Penalty and Remedy Miscommunications

On March 30, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a student-loan servicer for alleged deceptive acts and practices in violation of the CFPA, 12 U.S.C. §§ 5531(a), 5536(a)(1)(B). The CFPB alleged that the servicer made deceptive statements to student loan borrowers and misrepresented their…

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