On January 26, 2021, a California federal judge granted the Consumer Financial Protection Bureau’s (CFPB) motion for default judgment against a now-defunct financial aid services company. The court also granted in part the CFPB’s motion for summary judgment against the company’s founder. The ruling resolves a complaint filed by the CFPB in 2015, previously covered by…
On January 15, 2021, the Consumer Financial Protection Bureau (CFPB) announced it had filed suit in the United States District Court for the District of Connecticut against a Connecticut-based mortgage company and three individual defendants for alleged violations of the Truth in Lending Act (TILA), the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act…
On December 30, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a lender that provided installment loans to consumers affiliated with the military over the lender’s alleged violations of the Military Lending Act (MLA), Electronic Fund Transfer Act (EFTA), and Consumer…
On December 22, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a national lender and originator of subprime auto loans over the company’s alleged violations of Section 623(a)(1)(A) of the Fair Credit Reporting Act (FCRA) (15 U.S.C. § 1681-s2(a)) and Regulation V, 12 C.F.R. § 1022.42(a). The…
On December 22, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had secured a consent order against a national student loan servicer based on its failure to comply with a 2015 consent order issued by the CFPB. Specifically, the company misrepresented the minimum periodic payments owed by consumers on their student loans, misrepresented…
On December 21, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a remittance transfer provider, with locations in 15 states and the District of Columbia. Remittance transfers are transfers of money by consumers in the United States to individuals living abroad. The consent order states that…
On December 18, 2020, the Consumer Financial Protection Bureau (Bureau) announced that it had entered into a consent order with a mortgage servicing company (and its successor in interest) resolving allegations that the company’s conduct between 2014 and 2018 violated the Consumer Financial Protection Act (CFPA) and Regulation X, the implementing regulations of the…
On December 11, 2020, the Consumer Financial Protection Bureau (Bureau) and the Arkansas Attorney General (AG) announced that they filed a complaint and proposed stipulated judgment in the U.S. District Court for the Eastern District of Arkansas against a home-security company. The complaint alleges that the company—which provided credit to customers for its products and services—violated the Consumer…
On December 8, 2020, the Consumer Financial Protection Bureau (Bureau) announced that it had entered into a consent order with a New Jersey debt collection company, resolving allegations that the debt collection company violated the Fair Debt Collection Practices Act (FDCPA) and the Consumer Financial Protection Act (CFPA). The debt collection company was engaged…
On December 4, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it filed suit against an online lender that offers single-payment and installment loans to consumers for alleged violations of the Military Lending Act (MLA). The MLA contains protections associated with extensions of consumer credit for active-duty servicemembers, including a maximum allowable annual…