Welcome to the “Student Lending” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.
Regulators will likely continue to focus on junk fees and purported deceptive or nontransparent practices...more
3/17/2025
/ Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Fraud ,
Consumer Protection Laws ,
Debt Collection ,
Debt Relief ,
Enforcement Actions ,
Federal Student Loans ,
Federal Trade Commission (FTC) ,
Loan Forgiveness ,
Loan Servicing ,
Student Loans ,
Unfair or Deceptive Trade Practices
On January 14, 2025, the CFPB announced that it had filed a complaint against a large national bank for alleged violations of the Consumer Financial Protection Act (CFPA), the Truth in Savings Act (TISA) and TISA’s...more
On November 7, 2024, the CFPB announced that it had entered into a consent order with a major credit union resolving allegations that the credit union improperly assessed overdraft fees against consumers. The credit...more
11/25/2024
/ Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Enforcement Actions ,
Excessive Fees ,
Financial Services Industry ,
Overdraft Fees ,
Popular ,
Unfair or Deceptive Trade Practices
On August 21, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a Florida-based mortgage servicer, resolving allegations related to the mortgage servicer’s...more
8/26/2024
/ Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Financial Services Industry ,
Mortgage Servicers ,
Mortgages ,
RESPA ,
Truth in Lending Act (TILA)
On May 31, 2024, the CFPB announced that it had filed suit against a Pennsylvania-based student loan servicer for engaging in allegedly unfair, deceptive and abusive acts or practices in violation of the CFPA, 12 U.S.C. §§...more
6/1/2024
/ Consumer Bankruptcy ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Dischargeable Debts ,
Financial Services Industry ,
Loan Servicer ,
Regulation V ,
Student Loans ,
Unfair or Deceptive Trade Practices