In the wake of the financial crisis and with the advent of the Consumer Financial Protection Bureau (CFPB), federal and state enforcement officials have increasingly scrutinized consumer financial products and services. In many situations, these officials and agencies coordinate to advance common or similar claims and actions. Against this backdrop, we created the Consumer Finance Enforcement Watch blog – the marketplace’s first resource for real-time reporting on the full range of public federal and state consumer finance enforcement activity. Here, you will also find links to enforcement documents, statistics on the volume and nature of enforcement actions as well as reports and comments on significant enforcement trends and issues.
On August 17, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced that it filed a complaint and proposed settlement against an Oregon private equity firm and related entities for aiding a post-secondary education company and its […]View More
On August 17, 2017, the Associated Press announced that Minnesota’s Attorney General is suing two lending firms (with the same Nevada address) for allegedly pressuring veterans and senior citizens into signing over large portions of their […]View More
On August 8, 2017, the Department of Justice (DOJ) announced that a national lender agreed to settle allegations that it violated the False Claims Act. The settlement resolves allegations that the lender originated and underwrote mortgage […]View More
On August 4, 2017, the United States District Court for the Middle District of Pennsylvania denied a student loan servicer’s motion to dismiss claims brought against it by the Consumer Financial Protection Bureau (CFPB), rejecting […]View More
On August 10, 2017, the Massachusetts Division of Banks (DOB) announced that it had reached, together with the financial regulators of Connecticut, Idaho, Minnesota, and North Dakota, a settlement with two companies, resolving allegations that their debt collection […]View More
On August 10, 2017, the New York Department of Financial Services (DFS) announced that it had entered into a consent order with a Missouri-based lender that specializes in mortgage loans guaranteed by the United States Department of Veteran’s Affairs. […]View More
On August 8, 2017, the District of Columbia Attorney General (AG) announced that it had reached a settlement with a Florida-based debt relief company and its owner, resolving allegations that their debt collection practices violated District […]View More
On August 2, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a national bank, resolving allegations as to the bank’s allegedly unlawful credit reporting activities. According to the CFPB, the bank violated several […]View More
On August 1, 2017, the Virginia Attorney General’s Office (AG) announced that it had entered into a consent order with a state pawnbroker, settling allegations that the company overcharged consumers and was “skirting laws.” According to the AG, the […]View More
On July 27, 2017, the Massachusetts Attorney General’s Office (Massachusetts AG) announced that it entered into a consent judgment with the largest debt collection law firm in the state and two of its principals. The agreed consent judgment, which […]View More
