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Civil Monetary Penalty Consumer Financial Protection Bureau (CFPB) Regulatory Violations

Ballard Spahr LLP

CFPB files complaint against Synapse Financial Technologies

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The CFPB has filed a complaint against Synapse Financial Technologies Inc, alleging that the company engaged in unfair acts and practices in violation of the Section 1036(a)(1)(B) of the CFPA by failing to maintain sufficient...more

Ballard Spahr LLP

CFPB files lawsuit against companies and individuals involved in offering student debt relief services

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The CFPB filed a complaint last week in a California federal district court against several companies and individuals involved in offering student loan debt relief services for allegedly obtaining consumer reports unlawfully,...more

Ballard Spahr LLP

CFPB files lawsuit against debt collector and CEO for alleged FCRA, FDCPA, CFPA violations

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On September 25, 2019, the CFPB filed a lawsuit in federal district court in Maryland against Maryland-based debt collector FCO Holding, Inc. (“FCO”), its various subsidiaries and Michael E. Sobota, the CEO, president,...more

Bradley Arant Boult Cummings LLP

CFPB Settles with Freedom Debt Relief

On July 9, 2019, the United States District Court for the Northern District of California entered a stipulated final judgment and order in case number 17-cv-06484, Consumer Financial Protection Bureau v. Freedom Debt Relief,...more

Ballard Spahr LLP

CFPB settles lawsuit with nation’s largest debt-settlement services provider

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The CFPB announced that it has settled the lawsuit it filed in a California federal district court against Freedom Debt Relief (FDR) and its CEO for alleged violations of the Consumer Financial Protection Act (CFPA) and the...more

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CFPB proposes to issue final rule on annual civil penalty adjustments

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The CFPB is proposing to issue a final rule on annual adjustments to the civil penalties within its jurisdiction.  Comments on the proposal must be received by November 13, 2018....more

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