On September 23, the California Attorney General’s Office (AG) announced that it had filed a complaint against a network of auto dealerships and its chief executive, alleging that they targeted low-income consumers with subprime credit using false advertising promising fictitiously low interest rates; made false statements on credit applications to…
On September 12, 2019, the Federal Trade Commission (FTC) announced that it had settled lawsuits against the operators of two alleged student loan debt relief schemes, and a financing company that assisted them, alleging that they had bilked millions of dollars from consumers. The FTC alleged that the defendants violated…
On August 19, 2019, the Colorado Attorney General (AG) announced that it had reached a settlement with two financial services firms, resolving allegations that the firms had violated Colorado consumer protection laws. Between 2017 and 2019, one of the firms – a lender operating in the state – made numerous…
On August 21, 2019, Minnesota Attorney General Keith Ellison (“Minnesota AG”) announced a settlement with a Minnesota based lender that finances sales of door-to-door products, such as vacuum cleaners and air purifiers. This settlement resolved allegations that the lender hid high interest rates from consumers, failed to provide complete financing agreements to consumers, and failed to give borrowers…
On August 14, 2019, the Consumer Financial Protection Bureau (CFPB) and the Office of the Arkansas Attorney General (AG) entered into a proposed stipulated final judgment with three corporations that brokered extensions of credit to consumers, and the co-founder and owner of one of the corporations. The simultaneously filed complaint, filed…
On July 25, 2019, the Consumer Financial Protection Bureau (“CFPB”) and the New York Attorney General (“New York AG”) announced that they have filed two proposed settlements with three debt collection companies and two individuals who conducted business together in Buffalo, New York. The proposed settlements were filed in the U.S. District Court for…
On July 23, 2019, Delaware’s Department of Justice, Consumer Protection Unit (“Delaware CPU”) announced that it reached a settlement with two-California based companies that would require them to cease advertising and selling loan modification and debt relief services in the state of Delaware. According to the cease and desist agreement, the companies and their…
On July 19, 2019, the Georgia Attorney General’s Office (AG) announced that it had entered into a settlement with a company allegedly offering unlawful and deceptive credit repair services in violation of the Georgia Fair Business Practices Act. According to the AG, Georgia law generally forbids the provision of credit…
On July 11, 2019, the Massachusetts Office of Attorney General Maura Healey announced that a for-profit educational institution and its parent company would provide over $1.6 million in debt relief to settle claims that it did not provide its students with critical information on program job placement, loan repayment, and…
On July 17, 2019, Ohio Attorney General Dave Yost (Ohio AG) announced that it and the FTC had secured a temporary restraining order from the United States District Court for the Western District of Texas against two companies that allegedly defrauded consumers struggling with credit card debt out of millions of dollars. The complaint alleged that…