On October 22, 2021, the Consumer Finance Protection Bureau (CFPB) announced that the CFPB, Department of Justice (DOJ) and Office of the Comptroller of the Currency (OCC) collectively reached a joint settlement with a national bank that resolved allegations of mortgage lending discrimination in the Memphis metropolitan area in violation of the Fair Housing Act (FHA),…
On October 8, 2021, the Consumer Financial Protection Bureau (“CFPB”) announced the filing of a complaint and proposed consent order against a reverse mortgage lender in the U.S. District Court for the Central District of California. In the complaint, the CFPB alleged the lender engaged in deceptive advertising practices in violation of the Consumer Financial…
On September 30, 2021, the Department of Justice (DOJ) announced that it reached a settlement with an auto lender, resolving allegations that the lender violated the Servicemembers Civil Relief Act (SCRA). Following an investigation which began in 2019, the DOJ filed a complaint that same day in the United States District Court for the Northern…
On September 30, 2021, the Minnesota Attorney General (“Minnesota AG”) announced that a federal bankruptcy court had approved $23.6 million in student debt relief and $15.8 million in restitution for students of two for-profit universities that allegedly engaged in consumer fraud and illegal lending practices. The settlement, originally announced in March 2021, resolved allegations that the universities misled students…
On September 29, 2021, the Department of Justice (DOJ) announced that it reached a settlement with a California-based auto lender, resolving allegations that the lender violated the Servicemembers Civil Relief Act (SCRA). In a simultaneously-filed complaint filed in the United States District Court for the Central District of California, the DOJ…
On September 23, 2021, the West Virginia Attorney General’s Office (AG) announced that it had filed a complaint against a New York-based debt collection agency for violations of the West Virginia Consumer Credit and Protection Act (WVCCPA) . The complaint alleges that the debt collection agency violated West Virginia law by operating without proper authorization and by using illegal, high-pressure…
On September 22, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it issued its first enforcement action against a debt collection company for various practices, including threatening to sue consumers and garnish wages, and for submitting negative information to credit bureaus without first providing required notice, in violation…
On September 20, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in the U.S. District Court of the Central District of California against a California-based software company and its owner. The complaint alleges that the software company violated the Telemarking Sales Rule (TSR) and Consumer Financial…
On September 20, 2021, the Department of Justice (DOJ) announced that it reached a settlement with the New Jersey Higher Education Student Assistance Authority (HESAA), resolving allegations that the state agency unlawfully obtained default judgments against two military servicemembers for student loan debt in violation of the Servicemembers Civil Relief Act (SCRA). In a…
On September 8, 2021 the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint against an online lender for alleged violations of a 2016 consent order, the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5564, the Equal Credit Opportunity Act (ECOA), 15 U.S.C. §§ 1691–1691f, and Regulation B (Reg…