On December 23, 2022, the Consumer Financial Protection Bureau (CFPB) moved for dismissal, or in the alternative partial summary judgment, of the complaint filed by the U.S. Chamber of Commerce in September 2022 in the Eastern District of Texas that challenges the CFPB’s update to the Unfair, Deceptive, or Abusive…
On December 1, 2022 the Consumer Financial Protection Bureau (CFPB) announced that it had reached a proposed settlement with a Delaware-based financial services company to resolve allegations it made false representations to consumers in violation of the Consumer Financial Protection Act (CFPA). In the underlying complaint filed in the U.S. District Court for the Southern…
On December 22, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had reached a settlement with an international remittance company to resolve alleged violations of the Electronic Fund Transfer Act (EFTA), 15 U.S.C. § 1693 et seq., and its implementing Regulation E (Reg E), 12 C.F.R. Part 1005, Subpart B…
On December 20, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a large national bank to resolve alleged violations of the Consumer Financial Protection Act’s (CFPA) prohibition of unfair, deceptive, and abusive acts or practices, 12 U.S.C. §§ 5531 and 5536. According to the…
On December 14, 2022, the Colorado Attorney General (AG) announced that it entered into a consent order with a California-based debt management company and its sister lending company, resolving the AG’s examination findings that those companies violated Colorado’s Uniform Consumer Credit Code, C.R.S. § 5-1-101, et seq. (“UCCC”) and Debt Management Services Act, C.R.S. § 5-19-201…
On November 18, 2022, the Minnesota Attorney General’s Office (Minnesota AG) announced that it entered into a consent order with a California student-loan debt-relief company to resolve allegations that the company illegally collected fees from customers and mispresented its services to consumers. According to the Minnesota AG, the company “falsely promised consumers student-loan…
On November 17, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a California-based mortgage servicer concerning its purported failure to provide certain borrowers forbearances and protections from credit reporting, as required under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). According to the CFPB, the servicer’s…
On October 11, 2022, the North Carolina Attorney General’s Office (NC AG) announced that it had entered into a consent order with certain Texas-based debt collection companies, resolving allegations that those companies engaged in illegal debt collection practices in violation of various state statutes. In 2019, the NC AG filed a lawsuit in North Carolina state court alleging that…
On October, 4, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with a non-bank remittance transfer provider to resolve alleged violations of the Electronic Fund Transfer Act (EFTA), 15 U.S.C. § 1693 et seq., and its implementing Regulation E, 12 C.F.R. Part 1005, including Subpart B (known as the Remittance…
On September 29, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it filed suit in the United States District Court for the Southern District of New York against an online lender and 38 of its subsidiaries for alleged violations of the Military Lending Act (MLA), 10 U.S.C. § 987, and its implementing regulation, 32…