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.

DOJ Reaches First “Buy Here, Pay Here” Auto-Lending Discrimination Settlement

The DOJ announced a settlement of the first “buy here, pay here” discriminatory auto-lending lawsuit. The complaint, filed in January, 2014 by the DOJ, the U.S. Attorney’s Office for the Western District of North Carolina and the North Carolina Attorney General in the U.S. District Court for the Western District…

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California Department of Business Oversight Reaches $1 Million Settlement with Payday Lender for Deceptive Marketing

On February 5, 2015, the California Department of Business Oversight announced that it reached a settlement with a payday lending company over allegations that the company used deceptive sales pitches to market payday loans in violation of the California Lenders Law. The company purportedly structured loans in a way that…

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Colorado Supreme Court Issues Injunction Against Debt Settlement Company for False Advertising

On February 5, 2015, the Colorado Attorney General announced that the Colorado Supreme Court affirmed a temporary injunction order that bars a debt settlement company from continuing operations in the State of Colorado. The State’s motion successfully barred the company from engaging in the unauthorized practice of law in connection…

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