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…
On July 8, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with a Florida-based student debt relief company and three of the company’s officers. The complaint, which was filed in the Southern District of Florida, alleges that from 2016 through October 2019, the company violated the…
On July 6, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it filed a lawsuit against a Delaware financial services company and the company’s founder in the Southern District of New York. The complaint alleges that the company engaged in deceptive acts and practices under the Consumer Financial Protection Act (CFPA),…
On June 23, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with three companies that issued contracts for deeds with consumers. According to the CFPB, between 2010 and 2016, these companies allegedly had a business plan of acquiring foreclosed properties in bulk and reselling them to consumers through seller financing…
On June 2, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had reached a settlement with multiple related companies based in Tennessee that offer payday and auto-title loans. The CFPB alleged that the companies made deceptive disclosures, failed to refund overpayments on its loans, and engaged in unfair…
On May 22, 2020, the Consumer Financial Protection Bureau (CFPB) and Massachusetts Attorney General’s Office (Mass AG) announced that they had filed a complaint against a credit repair company and the owner of the company in the U.S. District Court for the District of Massachusetts, alleging that they had engaged in deceptive…
On May 14, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a proposed stipulated judgment and final order with a California-based mortgage lender and several affiliated individuals and companies (collectively, the “lender”) resolving allegations that the lender had obtained consumer credit reports for an improper…