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.

First Half of 2018 Sees Significant Decline in Publicly Announced or Publicly Filed Enforcement Activity

During the first half of 2018, Enforcement Watch tracked 40 publicly announced or publicly filed enforcement actions involving consumer financial services companies. The 18 enforcement actions tracked during Q1 2018 represent a substantial decrease from the 46 actions tracked in Q1 2017. That trend continued in Q2 2018, with Enforcement Watch…

Read More

CFPB Announces Settlement with Tennessee Small Dollar Lender

On October 24, 2018, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a Consent Order with a Tennessee-based small dollar lender, resolving allegations that the lender had committed deceptive acts and practices in violation of ​the Consumer Financial Protection Act (“CFPA”), 12 U.S.C. §§ 5531, 5536(a)(1)​​(B).  The Consent Order…

Read More

DOJ Settles with Mortgage Lender for $13.2 Million Concerning FHA Mortgage Certifications

​On October 19, the Department of Justice (DOJ) announced that it settled allegations that a Florida-based mortgage lender violated the False Claims Act (FCA) ​by falsely certifying that it complied with Federal Housing Administration (FHA) mortgage insurance requirements for certain loans originated between 2006 and 2011 for $13.2 million. In the lawsuit, which…

Read More

CFPB Reaches $200,000 Settlement with Online Retailer Over Payment Forwarding

On October 4, 2018, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with online retailer and its subsidiaries that sells products through revolving-credit accounts and installment-credit accounts, and then sells charged-off account to third-party debt collectors. The consent order resolves the CFPB’s allegations…

Read More

CFPB Files Complaint Against Pension-Advance Lender

On September 13, 2018, the Consumer Financial Protection Bureau (“CFPB”) announced that it filed a complaint against a lender, its president, and related entities (“Defendants”) for allegedly making small-dollar loans in exchange for borrowers’ monthly pension payments, which the CFPB alleges is a violation of the Consumer Financial Protection Act, 12 U.S.C. § 5536(a)(1)(B).  The Complaint…

Read More

FTC Settles with Student Debt Relief Companies for $19 Million


On September 28, 2018, the Federal Trade Commission (FTC) announced that it had reached a settlement with loan debt relief operators in connection with the coordinated federal-state enforcement initiative to target deceptive student loan debt relief scams, called “Operation Game of Loans.” According to the FTC, the operators violated the federal law by allegedly…

Read More