Search Results: test FCRA

Mortgage Servicer Enters in to $225 Million Consent Order with California DBO

On February 17, 2017, the California Department of Business Oversight (California DBO) announced that it had entered in to a $225 million consent order with a national mortgage servicer following an investigation by a third-party auditor into loans serviced by the company in California between January 1, 2012 and June 30, 2015.  The servicer had agreed to the audit…

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CFPB Secures $8.8 Million Consent Order Against Mortgage Servicer

On January 23, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a mortgage servicer, resolving alleged violations of the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA), and the Consumer Financial Protection Act’s (CFPA) prohibition on deceptive acts or practices….

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CFPB Files Lawsuit Against Largest U.S. Student Loan Servicer Over Deceptive Practices

On January 18, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in the U.S. District Court for the Middle District of Pennsylvania against a servicer of private and federal student loans, alleging that the servicer used deceptive practices related to borrower repayment. The student loan servicer is…

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CFPB Orders Medical Debt Collection Law Firms To Pay Over $600,000 For Alleged Misrepresentations

On January 9, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with two affiliated medical debt collection law firms over allegations that the law firms used deceptive collection letters and illegally notarized collection affidavits.  The consent order alleges that the law firms would send debtors collection…

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CFPB Issues Consent Order Regarding National Bank's Student Loan Servicing Practices

On August 22, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a large national bank in relation to the company’s private student loan servicing practices.  The CFPB asserts that the bank’s practices allegedly increased costs and penalized certain borrowers, leading to illegal fees and inaccurate credit…

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Auto Dealer-Lender and CFPB Settle Credit Reporting Allegations for $6.4 Million

On December 17, 2015, the CFPB announced a consent order and settlement with a Minnesota-based auto dealer and its affiliated financing company regarding their credit reporting practices in 15 states.  The consent order asserts that the companies violated the Fair Credit Reporting Act (FCRA) and the Consumer Financial Protection Act…

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CFPB Settles with Debt Collector Over Unverified Debts

​On December 7, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a state debt collector over allegations that the debt collector, which collected telecommunications debt, reported inaccurate information to credit-reporting agencies and collected and reported debt that consumers disputed and that it could not…

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Credit Reporting Company to Pay CFPB $8 Million for FCRA Violations

​On December 3, the Consumer Financial Protection Bureau (CFPB) entered a consent order with a national credit reporting company, resolving allegations that the company violated the Fair Credit Reporting Act (FCRA). The credit reporting company is in the business of compiling and reselling consumer credit reports to financial service providers, such as…

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CFPB Summarizes Supervisory Trends for May through August, 2015

On November 3, 2015, the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report​ detailing the Bureau’s supervision efforts for May through August of 2015. The report summarizes the violations of consumer protection laws the Bureau observed during the four-month period and identifies the areas in which the Bureau has…

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