On July 1, 2019, New York Attorney General Letitia James (“New York AG”) announced that together with the Federal Trade Commission (“FTC”), the agencies had entered into a settlement with a debt collection company, a related entity, and corporate officers to resolve a case filed in the United States District Court for the Western District of New…
On June 14, 2019, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a private student loan provider that issued and managed student loans at the now-defunct for-profit ITT Technical Institute. Forty-five states including Kansas, Florida, Nevada, North Carolina, Iowa, Missouri, Kentucky, Ohio, Oregon, and New York also settled with the loan…
On May 21, 2019, the North Carolina Attorney General’s office (AG) announced that it had obtained a temporary restraining order (TRO) as a result of a consent agreement with a Florida-based online lender in a lawsuit it filed in North Carolina state court on May 15, 2019. The AG alleged that the online lender, which was not licensed in North…
On April 11, 2019, the Maryland Attorney General’s Office (AG) announced that the AG’s Consumer Protection Division had filed charges against affiliated businesses and their owner (defendants) alleging that they had made unlicensed and usurious consumer loans in the form of “title loans” or “title pawns” secured by Maryland consumers’…
On April 8, the Delaware and Massachusetts Attorney Generals’ Offices (AGs) announced that they had entered into settlements with an auto loan finance company. The AGs alleged that the auto lender facilitated the origination of subprime auto loans that violated state consumer protection laws by funding and securitizing loans that consumers could not…
On March 27, 2019, the Alabama Attorney General (“Alabama AG”), Alabama State Banking Department, and the Director of the Alabama Securities Commission announced that they filed a complaint against a Nevada-based lender and its CEO (“Defendants”) for allegedly making loans at unlawful interest rates to desperate consumers in exchange for their pension benefits in violation…
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…
On March 5, 2019, the Arizona Attorney General’s Office (Arizona AG) announced that it had filed a complaint against a California-based online payday lender, its owner, and its wholly owned subsidiary for alleged violations of the Arizona Consumer Fraud Act, A.R.S. § 44-1521 et seq. According to the complaint, the defendants marketed and…
On January 16, the Consumer Financial Protection Bureau (CFPB) and the State of New York announced that they had filed a consent order in the U.S. District Court for the Southern District of New York.to settle allegations that a jewelry retailer enrolled customers in credit cards and related products without their consent….
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…