On July 28, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a large national bank to resolve alleged violations of the Truth in Lending Act (TILA), 15 U.S.C. § 1601 et seq., and its implementing regulation, Regulation Z (Reg Z), 12 C.F.R. part 1026; the Fair Credit…
On May 31, 2022, the Federal Trade Commission (FTC) announced it had filed a complaint against a group of related companies and its owners for allegedly scamming consumers out of more than $213 million through operation of a credit repair scheme. The FTC alleges that the company violated Section 5(a) of the FTC…
On May 6, 2022, the Federal Trade Commission (FTC) announced that, at its request, the U.S. District Court for the Middle District of Florida had issued a temporary restraining order (TRO), effectively shutting down a credit repair operation. In the FTC’s complaint, it alleged that the company charged consumers hundreds of dollars for credit repair services that…
On April 12, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it filed a lawsuit against TransUnion and the company’s former executive. The complaint, filed in the U.S. District Court for the Northern District of Illinois, alleges that TransUnion violated a 2017 CFPB consent order which resolved allegations that the company deceptively marketed credit scores…
On March 21, 2022, the Department of Justice (DOJ) announced that it obtained a permanent injunction against a credit repair company and its CEO, barring the company from making representations that it can improve consumers’ credit scores. The injunction was issued by the United States District Court for the Southern District of Texas in relation…
On March 21, 2022, the Federal Trade Commission (FTC) announced that it had obtained an injunction halting a Texas-based credit repair operation. The company allegedly obtained millions of dollars from consumers by falsely claiming to consumers the company could remove negative information from credit reports. The company would then allegedly file fake identify theft reports to remove…
On September 20, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in the U.S. District Court of the Central District of California against a California-based software company and its owner. The complaint alleges that the software company violated the Telemarking Sales Rule (TSR) and Consumer Financial…
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 November 12, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an Illinois-based debt collector that collects debts on behalf of telecommunications companies and furnishes consumer-account information to credit reporting agencies. The CFPB alleged that the debt collector violated the Fair Credit Reporting Act (FCRA) and the…
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…