Search Results: CFPB

CFPB Enters Into Consent Order with Affiliated Education Financing Companies

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​On September 7, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a group of affiliated education financing companies that provided students with income share agreements (ISAs) to finance postsecondary education.  The consent order resolves allegations that the companies violated ​the Consumer Financial Protection Act (CFPA), Regulation Z…

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CFPB Settles Credit Reporting-Related Claims With Debt Collector for $850,000

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On August 17, 2021, the Consumer Financial Protection Bureau (CFPB) filed a proposed settlement order that would resolve allegations that a debt collection company had violated the Consumer Financial Protection Act (CFPA), the Fair Credit Reporting Act (FCRA) and its implementing regulation, Regulation V, and the Fair Debt Collection Practices Act (FDCPA). The CFPB’s complaint, filed in…

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CFPB Reaches Consent Agreement with Fintech Company Concerning Facilitation of Loans to Consumers Without Their Authorization

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On July 12, 2021 the Consumer Financial Protection Bureau (CFPB) announced that a consent order had been reached with an Atlanta-based non-bank lending company that would require the company to cancel up to $9 million in loans for consumers, resolving allegations that the fintech company violated the Consumer Financial Protection Act (CFPA) by originating and servicing unauthorized loans….

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CFPB Files Complaint and Proposed Order Against Debt Relief and Credit Repair Company, Seeking Permanent Ban

On June 29, 2021, the Consumer Financial Protection Bureau (CFPB) announced it filed a proposed stipulated order with a Maryland-based debt relief and credit repair company concerning alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). If accepted by the court, the order would ban the company and its…

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Auto Lender Enters Into Consent Order with CFPB

​On May 21, 2021, the Consumer Financial Protection Bureau (CFPB) announced​ that it ​entered into a consent order​ and stipulation with​ a California-based company that services subprime auto loans originated by car dealers.​ According to the consent order and stipulation, the CFPB ​found that the company engaged in unfair acts or practices by charging interest on late payments related to loss damage waiver fees,…

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CFPB and Debt Settlement Company Agree to Stipulated Final Judgment and Order

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​On May 17, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it has entered​ into a stipulated judgment​ and order​ to resolve a civil action that it previously filed against a debt settlement company in the U.S. District Court for the District of Massachusetts on December 1, 2020, as previously reported he​​re. ​The CFPB initially filed suit against the debt settlement company…

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