On October 10, the CFPB settled an action against a California-based private arbitration company permanently banning it from arbitrating disputes related to consumer financial products or services. The company operates an...more
On August 29, the CFPB issued a consent order against a non-bank direct mortgage lender for misrepresenting the cost of its cash-out refinance loans, which are guaranteed under the VA home loan program, to active-duty...more
9/9/2024
/ Borrowers ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Lenders ,
Loans ,
Military Lending Act ,
Military Service Members ,
Misleading Statements ,
Mortgages ,
Refinancing ,
Veterans
On August 7, the CFPB issued a report and a consumer advisory highlighting predatory practices in solar lending. On the same day, the FTC released a blog post emphasizing similar concerns....more
On March 5, the New York Attorney General filed a lawsuit against a network of over 30 lending companies and their officers alleging their involvement in a predatory “merchant cash advance” lending scheme that exploited New...more
On February 22, Attorney General Merrick B. Garland appointed Jonathan Mayer as the Justice Department’s inaugural Chief Science and Technology Advisor and Chief Artificial Intelligence Officer. Mayer will sit in the Justice...more