Search Results: test Debt Collection

CFPB and Auto Lender Settle Servicemember Debt Collection Claim for $3.28 Million

​On October 28, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it entered an administrative consent order against an Ohio-based auto lender that specializes in loans to military servicemembers.  The CFPB consent order, and the companion stipulated order issued by the U.S. District Court for the Southern District of Ohio, resolve…

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Debt Relief Scammer Settles With FTC for $7.9 Million

FTC

On October 5, 2015, the Federal Trade Commission (FTC) announced that it reached a settlement with defendants who allegedly operated a debt scamming business by promising consumers debt relief services that they did not deliver.  Defendants allegedly disseminated false and misleading information regarding their services through telemarketing, internet ads, and other media.  After…

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CFPB Enters $48 Million Consent Order with Indirect Auto Lender

On October 1, 2015, the CFPB announced an enforcement action and consent order with an indirect auto lender for illegal debt collection and other practices.  It is alleged that the company’s actions violated the Fair Debt Collection Practices Act, the Truth in Lending Act, and the Dodd-Frank Act. The illegal…

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Debt Collector Settles with FTC Over Misrepresentations Made to Payday Loan Borrowers

FTC

​On September 16, the Federal Trade Commission (FTC) announced that it had entered a stipulated order with a debt collection services provider over allegations that the debt collector violated the Federal Trade Commission Act and Fair Debt Collection Practices Act by misrepresenting to payday loan recipients that they were delinquent on their debts, collected millions…

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Debt Collectors Enter Consent Orders with CFPB for FDCPA Violations

​On September 9, the Consumer Financial Protection Bureau (CFPB) announced that it entered into consent orders with two large debt purchasers for alleged violations of the Fair Debt Collection Practices Act, Consumer Financial Protection Act, and Fair Credit Reporting Act.  CFPB alleged that the companies purchased debts that they knew or…

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DC AG Seeks Penalties from Debt-Purchasing Company for Collecting on Illegal Interest Rates

On September 9, the District of Columbia Attorney General announced that it filed a complaint in D.C. Superior Court against a debt-purchasing company, its wholly-owned subsidiary, and their principal, for violations of the District’s debt collection and usury laws.  The complaint alleges that the company purchased loans from a company that has since gone out…

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North Carolina Judge Bars Payday Lender from Lending Activity

On September 1, 2015​, North Carolina Special Court Superior Judge Gregory P. McGuire issued a preliminary injunction​ barring a North Dakota-based online fast cash lender from advertising, lending, and collection activity in the state of North Carolina.  The preliminary injunction bars the lender and its affiliated companies from advertising, offering or entering into contracts to…

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Mortgage Services Company To Pay $167,000 to Maryland Residents For Allegedly Unlawful Lockouts

On August 28, 2015, the Maryland Attorney General announced that it reached a settlement with an Ohio-based mortgage field-services company to resolve allegations that the company wrongfully locked Maryland residents out of their homes and took or damaged personal property.  The company contracts with lenders and mortgage servicers to provide services related to inspecting,…

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Office of the Comptroller of the Currency Announces $30 Million Civil Penalty Against National Bank Over SCRA Violations

On August 21, 2015, the Office of the Comptroller of the Currency announced that it had concluded its investigation into several related national banks regarding alleged violations of the Servicemembers Civil Relief Act. The Act prohibits certain debt collection activities against members of the armed forces. Before proceeding with judicial…

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Oregon Attorney General Announces Lawsuit Against Car Title Loan Company Over Illegal Loans

On August 18, 2015, the Oregon Attorney General’s Office and the Oregon Department of Consumer and Business Services announced​ that they filed a lawsuit against a regional automobile loan company. The company advertised car title loans online. When consumers completed the online applications, the company allegedly deceived them into signing…

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