Search Results: FCRA

FTC Settles FCRA Claims With Home Security Company for $20 Million

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On April 29, 2021, the Federal Trade Commission (“FTC”) announced that it had reached a settlement with a Utah-based home security company to resolve allegations that the company misused consumer credit reports when determining whether prospective customers qualified for financing to purchase the company’s products and services. In a complaint filed by the Department of…

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CFPB Sues Connecticut-Based Mortgage Lender

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​On January 15, 2021, the Consumer Financial Protection Bureau (CFPB) announced it had filed suit in the United States District Court for the District of Connecticut against a Connecticut-based mortgage company and three individual defendants for alleged violations of the Truth in Lending Act (TILA)​, the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act…

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CFPB and Arkansas AG Settle with Home Security Company for Alleged FCRA and CFPA Violations

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On December 11, 2020, the Consumer Financial Protection Bureau (Bureau) and the Arkansas Attorney General (AG) announced that they filed a complaint and proposed stipulated judgment in the U.S. District Court for the Eastern District of Arkansas against a home-security company​.  The complaint alleges that the company—which provided credit to customers for its products and services—violated the Consumer…

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CFPB Settles with Telecommunications Debt Collector for Alleged FCRA and CFPA Violations

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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…

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CFPB Settles with Debt Collector for Over $15 Million

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On October 15, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it has reached a proposed settlement with the nation’s largest debt collector. The CFPB previously reached a consent order with this company in 2015 for alleged violations of the Consumer Financial Protection Act (CFPA), Fair Debt Collection Practices Act (FDCPA),…

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CFPB Settles with Three Companies Over Alleged UDAAP and FCRA Violations

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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…

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CFPB Settles with Lender and Student Loan Debt Relief Companies Over Alleged Misuse of Credit Reports

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…

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CFPB Announces $1.3 Million Settlement With Short-Term Lender Resolving Allegations of Unfair and Deceptive Practices

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On April 1, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an installment-loan lender, resolving allegations that the lender violated the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531(a), 5536(a)(1)(B), Fair Credit Reporting Act (FCRA), 15 U.S.C. §§ 1681 et seq….

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CFPB Files Suit Against Companies for Allegedly Funneling Credit Reports to Student-Loan Debt-Relief Scheme

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​On January 9, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a complaint against a constellation of companies for allegedly requesting credit reports without a permissible purpose in order to deceptively market sham student-loan debt relief services to consumers, in violation of the Consumer Financial Protection Act…

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