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.

California Settles with Student Loan Debt Relief Company for Allegedly Collecting Illegal Fees

​On August 9, 2021, the California Department of Financial Protection and Innovation (DFPI) announced ​that it had entered into a settlement agreement with a Tustin-based student loan d​ebt relief company, resolving allegations that the company violated the California Consumer Financial Protection Law (CCFPL) when it collected illegal advance fees under the Telemarketing Sales Rule (TSR). This settlement comes as the…

Read More

FTC Settles with Two Florida-Based Companies for Allegedly Providing Assistance to Student Debt Relief Scam


​On July 12, 2021, the Federal Trade Commission (FTC) announced a settlement with two Florida-based companies and their CEO, resolving allegations that the companies aided a student debt relief scam by providing false or deceptive information in order to obtain merchant processing for the scheme. The settlement will permanently bar the two…

Read More

Mississippi Attorney General Reaches Settlement with Auto Lender to Resolve Claims of Deceptive Practices

​On July 21, 2021, the Mississippi Attorney General announced that it had reached a settlement with a national auto lender to resolve claims that the company placed borrowers into auto loans with a high probability of default.  The Attorney General also alleged that the auto lender engaged in aggressive collection practices in violation…

Read More

CFPB Reaches Consent Agreement with Fintech Company Concerning Facilitation of Loans to Consumers Without Their Authorization

CFPB sign

On July 12, 2021 the Consumer Financial Protection Bureau (CFPB) announced that a consent order had been reached with an Atlanta-based non-bank lending company that would require the company to cancel up to $9 million in loans for consumers, resolving allegations that the fintech company violated the Consumer Financial Protection Act (CFPA) by originating and servicing unauthorized loans….

Read More

NY DFS Enters Consent Orders with Two Indirect Auto Lenders for a Combined $625,000 in Civil Penalties

On June 29, 2021, the New York Department of Financial Services (DFS) announced it entered consent orders with two New York-based banks for allegedly violating New York’s fair lending laws in the course of providing auto loans. The banks will pay $275,000 and $350,000 in penalties to the state to resolve the allegations. DFS alleged that the…

Read More

CFPB Files Complaint and Proposed Order Against Debt Relief and Credit Repair Company, Seeking Permanent Ban

On June 29, 2021, the Consumer Financial Protection Bureau (CFPB) announced it filed a proposed stipulated order with a Maryland-based debt relief and credit repair company concerning alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). If accepted by the court, the order would ban the company and its…

Read More

Washington AG Reaches Settlement with Debt Collector to Resolve Lawsuit Concerning Its Alleged Failure to Offer Garnishment Exemptions and Collection of Unlawful Fees

On June 8, 2020 the Washington Attorney General’s office (Washington AG) announced that a consent order had been reached with a Colorado-based debt collection agency that would require the agency to pay $475,000 to approximately 5,000 Washington consumers to resolve a lawsuit originally filed in April 2020 in Washington state…

Read More