Search Results: test State AGs

Virginia Attorney General Files Suit Against Online Lender Alleging Predatory Lending

On May 4, Virginia Attorney General Mark R. Herring (“VA Attorney General”) announced that its Predatory Lending Unit had filed suit in Virginia state court against a Chicago-based online lender, alleging violations of the Virginia Consumer Protection Act, Virginia Code §§ 59.1-196 to 59.1-207 (“VCPA”). The complaint alleges that the lender, one of the largest online…

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Webinar: What's Happening Inside the CFPB and How It Impacts State Enforcement of Consumer Finance Laws

On Tuesday, May 8, 2018, Anthony Alexis, head of Goodwin’s Consumer Financial Services Enforcement Practice and former Assistant Director and Head of the Office of Enforcement at the Consumer Financial Protection Bureau, and Kyle Tayman, partner in Goodwin’s Consumer Financial Services Enforcement Practice, kicked off Goodwin’s State of Enforcement Series with the webinar “What’s Happening Inside the CFPB and…

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Illinois Attorney General Alleges Pension Sales Violate State Lending Laws

On April 19, 2018, the Illinois Attorney General’s Office (“Illinois AG”) announced that it had filed a complaint against a Nevada-based company that claimed to “purchase” portions of consumers’ pension plans.  According to the complaint​, these transactions constituted predatory installment loans with excessive interests rates in violation of Illinois law.  The complaint alleges that the…

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Georgia AG Announces $8.5 Million Settlement with Debt Collector

On April 4, Georgia Attorney General Chris Carr (“Georgia AG”) announced​ an $8.5 million settlement with a national debt collector, resolving allegations that the company violated the Fair Debt Collection Practices Act (FDCPA) and the Georgia Fair Business Practices Act. The Georgia AG had alleged that the company harassed and deceived consumers…

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FTC and NY AG Convict and Settle For Nearly $50 Million With Debt Collectors

​ On March 22, 2018, the Federal Trade Commission (FTC), in conjunction with the New York Attorney General (AG), announced that it had entered into settlements with debt collection companies and their operators over allegedly deceptive and unlawful debt collection practices. In a February 2015 complaint filed in the United States District Court for the…

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Virginia AG Reaches $243,000 Settlement with Online Payday Lenders and Servicers

On February 23, 2018, the Office of the Attorney General of Virginia (“Virginia AG”) announced that it had entered into a settlement agreement with several affiliated online payday lenders and debt collection companies (the “Defendants”).  According to the Virginia AG, the Defendants, all out-of-state organizations, provided short-term, small-dollar loans to borrowers in Virginia…

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Virginia Attorney General Announces Settlement with Online Lender, Resulting in $2.7 Million in Relief to Virginia Consumers

​On February 7, 2018, Virginia Attorney General Mark R. Herring (Virginia AG) announced a settlement with a Virginia based online lender for alleged violations of the Virginia Consumer Protection Act. The lender allegedly offered closed-end, installment loans online and falsely claimed it was licensed in Virginia to do so.  According to the…

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Colorado AG Announces $2 Million Settlement with Two Lenders

On January 22, 2018, Colorado Attorney General Cynthia H. Coffman (“Colorado AG”) announced that her office has settled a lawsuit against two lenders.  The Colorado AG alleged that the lenders charged predatory interest rates to Colorado consumers by lending money to consumers who had pending personal injury claims and then requiring those consumers to pay…

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