Search Results: test State AGs

NJ AG Files Suit Against Two Auto Lenders Over Alleged Predatory Conduct

​On March 7, the New Jersey Attorney General’s Office (AG) announced that it had filed a complaint​ against two so-called “Buy Here-Pay Here” auto dealerships, alleging that they targeted vulnerable consumers by selling them high-mileage, used autos at grossly inflated prices; financed the sales through in-house loans with high interest rates that…

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49 State Attorneys General Obtain Nearly $500 Million in Student Loan Debt Relief

​On January 2, 2019, 49 state attorneys general reached a settlement with an Illinois-based for-profit education company, securing approximately $493.7 million in debt relief for over 179,000 students nationwide.  The settlement is the result of a five-year investigation, which began in 2014 after states received complaints from students and the U.S. Senate’s Health, Education, Labor and Pensions…

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Massachusetts AG Obtains $4 Million in Settlement Over Subprime Mortgage Modifications

On December 21, 2018, the Massachusetts Attorney General’s Office (“Mass. AG”) announced that it had reached a settlement with a national mortgage servicer, resolving allegations that the company mishandled mortgage loans in violation of the Massachusetts Act Preventing Unlawful and Unnecessary Foreclosures, a 2012 law designed to protect borrowers from foreclosure caused by unfair terms on subprime mortgages….

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Virginia Attorney General Announces Judgment Against Pension Lender, Securing More than $50 Million in Debt Relief and Penalties

On November 15, 2018, the Virginia Attorney General’s office (“Virginia AG”) announced that it had secured more than $50 million in debt relief and civil penalties as a result of its lawsuit brought under the Virginia Consumer Protection Act against two affiliated loan companies and their owner (the “Defendants”) in…

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First Half of 2018 Sees Significant Decline in Publicly Announced or Publicly Filed Enforcement Activity

During the first half of 2018, Enforcement Watch tracked 40 publicly announced or publicly filed enforcement actions involving consumer financial services companies. The 18 enforcement actions tracked during Q1 2018 represent a substantial decrease from the 46 actions tracked in Q1 2017. That trend continued in Q2 2018, with Enforcement Watch…

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