On September 30, 2015, the CFPB ordered an indirect auto lending company and its auto lending subsidiary to pay $48.3 million in fines for alleged FDCPA, TILA, and UDAAP violations. The CFPB alleges that the companies...more
10/5/2015
/ Automotive Loans ,
Borrowers ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Enforcement Actions ,
FDCPA ,
Misrepresentation ,
Non-Bank Lenders ,
Prior Express Consent ,
Repossess ,
Third-Party ,
Truth in Lending Act (TILA) ,
UDAAP
Over the past couple of weeks, the CFPB has kept itself busy in the mortgage origination enforcement arena. In one complaint, the CFPB ordered a residential mortgage lender and its CEO to each pay a $1 million civil penalty...more
6/10/2015
/ Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
ECOA ,
Enforcement ,
Enforcement Actions ,
Fair Housing Act (FHA) ,
Interest Rates ,
Loan Originator Compensation Rule ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgages
On February 10, 2015, the Consumer Financial Protection Bureau (“CFPB”) added another company to its litany of alleged Real Estate Settlement Procedures Act (“RESPA”) Section 8 offenders (Michigan Title, PHH Corporation, New...more
2/20/2015
/ Advertising ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement ,
Enforcement Actions ,
Kickbacks ,
Limited Liability Company (LLC) ,
Referral Fees ,
RESPA ,
Section 8 ,
UDAAP ,
Unfair or Deceptive Trade Practices ,
Veterans
On December 11, 2014, the CFPB filed two actions against debt relief companies. Complaint for Permanent Injunction and Other Relief, Consumer Fin. Prot. Bureau v. IrvineWebWorks, Inc., No. 8:14-cv-1967 (C.D. Cal. Dec. 11,...more