Search Results: CFPB

CFPB Summarizes Recent Results of Supervisory Enforcement

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On June 23, 2015, the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report detailing the Bureau’s supervision efforts for the first four months of 2015. The report summarizes the most common “illegal practices” uncovered by the Bureau and identifies the areas where the Bureau has  focused on in its…

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Medical Debt Collector Enters Into Consent Order With CFPB Over Communications With Consumers and Credit Reporting Agencies

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On June 18, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a medical debt collection company over allegations that the company​’s debt-collection activities violated the Fair Credit Reporting Act (“FCRA”) and the Fair Debt Collection Practices Act (“FDCPA”).  The consent order alleged that the company failed…

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Auto Finance Company Sued By CFPB Over Military Debt Collection Activities

On June 17, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a ​complaint against a national automobile finance company over allegations that the finance company used illegal threats and deceptive tactics to collect debts from military servicemembers.  The complaint alleges that the finance company violated the Consumer Financial Protection Act…

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CFPB Announces Rule Permitting Monitoring of Auto Finance Companies

On Wednesday, June 10, 2015, the Consumer Financial Protection Bureau (“CFPB”) announced a new rule that grants the CFPB the ability to monitor nonbank companies that qualify as “larger participants of a market for automobile financing.”  The CFPB simultaneously adopted a separate rule defining certain automobile leases as a “financial…

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FTC Releases 2014 Annual Financial Acts Enforcement Report

FTC

On June 9, 2015, the Federal Trade Commission (“FTC”) announced that it provided its 2014 Annual Financial Acts Enforcement Report (the “Report”) to the Consumer Financial Protection Bureau (“CFPB”) and the Federal Reserve Board.  The 23-page Report, dated May 29, 2015, provided information about enforcement and related activities involving Regulation Z (Truth in…

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Mortgage Lender Enters Into Consent Order With CFPB Over Steering Allegations

​On June 4, the Consumer Financial Protection Bureau (CFPB) announced that it had entered a consent order with a regional residential-mortgage lender over allegations that the lender paid bonuses and higher commissions to loan officers for steering consumers into mortgages with higher interest rates.  The complaint, also filed on June 4, alleged that the company…

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CFPB and Florida AG Granted Default Judgment Against Florida Mortgage Relief Companies

On May 29, 2015, the United States District Court for the Southern District of Florida granted the Consumer Financial Protection Bureau (“CFPB”) and the State of Florida​ a final default judgment​ against a Florida Foreclosure Relief Company and its corporate affiliates based on the company’s failure to answer or otherwise…

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