On August 26, 2020, Michigan’s Attorney General announced that it had reached a $1.8 million settlement with an online car title loan company. The company is alleged to have sold online car loans to Michigan consumers with illegal interest rates in the triple digits, including rates as high as 231 percent. …
On August 21, 2020, Colorado’s Attorney General announced that the Denver District Court ruled in the state’s favor and found that a for-profit college violated the Colorado Consumer Protection Act (“CCPA”) and the Uniform Consumer Credit Code (“UCCC”) in operating its institutional loan program. The matter was initiated after a two-year investigation that…
On August 18, 2020, the Colorado Attorney General (Colorado AG) announced a settlement with two bank and two non-bank lenders for allegedly exceeding state interest rate limits on consumer loans. The case resolves two cases that were originally filed in Denver District Court and have been pending since 2017. The…
On August 12, 2020, the Vermont Attorney General (Vermont AG) announced a settlement with an auto financing company related to alleged unfair or deceptive practices concerning the company’s subprime auto loans. According to the Vermont AG’s complaint, filed on August 7, 2020, the company engaged in unfair and deceptive practices in violation of the Vermont Consumer Protection Act, 9…
On August 4, 2020, the Pennsylvania Office of Attorney General (Pennsylvania AG) announced that it reached a settlement with a company providing financing to consumers seeking student-loan debt relief. According to the Pennsylvania AG, the company violated the Pennsylvania Consumer Protection Law and the federal Truth in Lending Act (TILA) through its alleged…
On July 30, 2020, the Massachusetts Attorney General (Massachusetts AG) announced a settlement with a Nevada-based debt buyer regarding a portfolio of loan debt it purchased from a for-profit education company. The settlement resolves the Massachusetts AG’s allegations that, between 2010 and 2016, the for-profit education company misled students by…
On June 23, 2020, the New York Office of Attorney General (New York AG) announced that it reached a $17 million settlement with a mortgage originator and servicer. The New York AG alleged that the company violated New York’s mortgage servicing regulations, 3 N.Y.C.R.R. Part 419, by failing to make reasonable and…
On June 23, 2020, the New York Office of Attorney General (New York AG) announced that it reached a $3.6 million settlement with a national debt settlement company for allegedly violating the terms of a March 2011 settlement. Under the previous settlement, the company was alleged to have engaged in fraudulent or…
On June 11, 2020, the North Dakota Office of the Attorney General (AG) announced that it had entered into an Assurance of Voluntary Compliance agreement with a California-based debt relief company, under which the company agreed to issue refunds to North Dakota consumers and to cease doing business in North…
On June 22, 2020, the Massachusetts Attorney General announced a settlement with a Florida-based mortgage loan servicer following an investigation into the servicer’s debt collection practices. Specifically, the settlement resolves allegations that the servicer made excessive calls to distressed homeowners and failed to provide written notice of their right to…