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…
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…
On September 8, 2020, the Consumer Financial Protection Bureau (CFPB) and the New York State Attorney General announced they filed a complaint against five New York debt-collection companies, along with the individual owners and managers of the firms. The complaint, filed in the Western District of New York, alleges the…
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…
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…
On August 21, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had a reached a settlement with a California-based lender, resolving allegations that the lender had sent deceptive loan advertisements to servicemembers and veterans in violation of the Consumer Financial Protection Act (CFPA), the Mortgage Acts and Practices…
On August 20, 2020, the Consumer Financial Protection Bureau (CFPB) announced it had a reached a settlement with a national bank, resolving allegations that its overdraft services violated the Electronic Fund Transfer Act, 15 U.S.C. § 1693 et seq., 12 C.F.R. § 1005.17(b)(1)(iii) (EFTA), Regulation E, 2 C.F.R. § 1005.17(b)(1)(iii),…
On July 20, 2020, the Consumer Financial Protection Bureau (CFPB) announced that the United States District Court for the Central District of California had entered its stipulated final judgment with a foreclosure relief services company and its owner, resolving allegations that the defendants had engaged in deceptive and abusive acts…
On July 15, 2020, the Consumer Financial Protection Bureau (CFPB) announced it had filed suit in the United States District Court for the Northern District of Illinois against a Chicago-based nonbank mortgage creditor for violations of the Equal Credit Opportunity Act, 15 U.S.C. § 1691(a) (ECOA), its implementing regulation Regulation…
On July 13, the Consumer Financial Protection Bureau (CFPB) announced it had filed suit in the United States District Court for the Central District of California against a Texas student loan debt-relief business and a marketing and customer service company for engaging in a nationwide student-loan debt-relief operation that allegedly…