Search Results: Default Servicing

New York AG Announces Settlement with Student Loan Debt Relief Company

​On August 8, 2019, New York Attorney General Letitia James (“New York AG”) announced a settlement and consent order with a student loan debt relief company, resolving the complaint’s allegations that the company deceived borrowers into paying for debt relief services that are available to the public for free from the federal government…

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Delaware Consumer Protection Unit Reaches Settlement with Two California Loan Modification Companies

​On July 23, 2019, Delaware’s Department of Justice, Consumer Protection Unit (“Delaware CPU”) announced that it reached a settlement​ with two-California based companies that would require them to cease advertising and selling loan modification and debt relief services in the state of Delaware. According to the cease and desist agreement, the companies and their…

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OCC Terminates Mortgage Servicing Consent Order and Assesses Penalties Against Two National Banks

On February 9, 2016, the Office of the Comptroller of Currency (“OCC”) announced that it has terminated mortgage servicing-related consent orders against two national banks because the banks now comply with the orders.   In terminating the consent orders, the OCC assessed a $10 million civil money penalty against the first bank and a $3.4 million civil money penalty against the…

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FTC and State AGs Announce Four Actions Against Debt Collectors as Part of Operations Collection Protection


On January 7, 2016, the Federal Trade Commission (“FTC”) and its law enforcement partners announced four separate actions against various debt collectors.  The FTC stated that the actions were part of a continuing nationwide crackdown referred to as “Operation Collection Protection,” which is designed to target debt collectors using illegal tactics.  The FTC claims the debt…

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