On March 4, 2021, Virginia’s Attorney General (AG) announced that it had reached a settlement with an open-end credit lender, resolving allegations that the lender violated the state’s consumer finance statutes. The AG alleged that from September 2013 through July 2017, the lender charged $100 origination fees on loans that were in…
On March 5, 2021, the Washington Attorney General’s Office (AG) announced that a Washington State court ruled against a student loan servicer, finding that the servicer violated the Washington Consumer Protection Act by engaging in unfair and deceptive conduct related to its representations related to a “co-signer release” program. The partial summary judgment order…
On March 3, Virginia’s Attorney General announced that the state reached a settlement with a student debt relief company for alleged Virginia Consumer Protection Act (VCPA) violations. The simultaneously filed complaint alleged that from February 2015 through August 2018, the company misled nearly 2,200 student borrowers into purchasing student debt relief…
On July 26, 2018, the Attorney General for the Commonwealth of Pennsylvania announced a lawsuit against five Pennsylvania mortgage foreclosure companies and two company owners for cheating consumers into signing contracts to have their mortgage loans modified—but never delivering the services paid for—in violation of Pennsylvania’s Unfair Trade Practices and Consumer…
On February 10, 2021, the Massachusetts Attorney General (Massachusetts AG) announced that it reached a settlement with a national federal student loan servicer, resolving allegations that the entity engaged in deceptive acts or practices in violation of state law related to its student loan servicing practices. In particular, the Massachusetts AG alleged…
On February 5, 2021, a digital-payment company disclosed in a filing with the Securities Exchange Commission (SEC) that they received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) on January 21, 2021. The CID requests documents and answers to written questions concerning allegedly unauthorized funds transfers and collections processes relating to one of the company’s products. …
On February 8, 2021, the Delaware Attorney General (Delaware AG) announced that it filed an administrative lawsuit against a California-based debt-management services company for allegedly violating the Delaware Uniform Debt-Management Services Act, the Delaware Consumer Fraud Act, and the Delaware Deceptive Trade Practices Act. According to the Delaware AG, the debt-management company used misleading advertising to target elderly and…
On January 14, 2021, Minnesota Attorney General Keith Ellison (Minnesota AG) announced that his office reached a settlement with a California-based student loan debt-relief company that allegedly collected unlawful fees from customers and made misrepresentations to them regarding its ability to forgive student loans. According to the Minnesota AG, the company allegedly made false promises to…
On December 16, 2020, the Pennsylvania Attorney General (Pennsylvania AG) announced a settlement with a California-based student loan forgiveness company for alleged violations of state consumer protection laws. According to the Pennslyvania AG, the company used false advertising tactics and posted fraudulent customer reviews on the Better Business Bureau website. Further, the company…
On November 16, 2020, the Maryland Attorney General (Maryland AG) announced a settlement with a Texas-based debt buyer regarding a portfolio of student loan debt the buyer purchased from a court-appointed receiver following the closure of a for-profit college. The $2,622,877 settlement immediately discharges any outstanding loans and refunds 75%…