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Consumer Financial Protection Bureau (CFPB) Consent Order Civil Monetary Penalty

Goodwin

CFPB Terminates Consent Order Against Credit Union

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On July 21, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had terminated its October 2024 consent order with a Florida-based credit union....more

Sheppard Mullin Richter & Hampton LLP

CFPB Terminates Two Consent Orders Addressing Overdraft Fees and Mortgage Servicing Violations

On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer. Both orders stemmed from 2024 enforcement actions and involved alleged...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates consent order against mortgage servicer

On July 1, the CFPB announced that it terminated a consent order against a mortgage servicer after finding that the company had “fulfilled several obligations,” including payment of a $2 million civil money penalty and $3...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses redlining case after asserting payments were made

On May 21, the CFPB and DOJ successfully filed a motion to dismiss with prejudice a case in the U.S. District Court for the Western District of Tennessee after noting the defendant paid its penalties. The dismissal ended a...more

Ballard Spahr LLP

Trustmark Redlining Consent Order Terminated

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A federal district court recently granted the unopposed motion of the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) to terminate their October 2021 consent order with Trustmark National Bank...more

Orrick, Herrington & Sutcliffe LLP

CFPB reduces civil money penalty by nearly 98 percent against fintech

On May 15, the CFPB issued an amended consent order against a fintech company for alleged violations of various consumer financial protection laws. As previously covered by InfoBytes, the CFPB sued the fintech company in...more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Credit Reporting Agency to Pay $15 Million for Mishandling Consumer Disputes

On January 17, 2025, the CFPB issued a consent order against a large consumer reporting agency for failing to properly investigate consumer disputes concerning inaccurate information on consumers’ credit reports. The CFPB...more

Hudson Cook, LLP

CFPB Issues Order Against a Private Dispute Resolution Platform

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On October 10, 2024, the CFPB announced that it issued a stipulation and consent order against the Company to resolve allegations that the Company violated the CFPA....more

Goodwin

CFPB Enters into $28 Million Consent Order Resolving Allegations of Consumer Credit Misreporting

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​On September 11, the CFPB announced that it had entered into a consent order with a national bank resolving allegations that the bank reported inaccurate information to consumer reporting companies.  The bank agreed to pay...more

Hudson Cook, LLP

National Bank Reaches Settlement with the CFPB for Alleged Credit Reporting Violations

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On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher...more

Sheppard Mullin Richter & Hampton LLP

CFPB Hits Executive Compensation in Action Against National Mortgage Servicer for Illegal Foreclosure Practices

On August 21, the CFPB entered into a consent order with a nonbank mortgage servicer for mortgage servicing violations and for violating an earlier 2017 CFPB consent order for deficient foreclosure practices. In 2017, the...more

Goodwin

CFPB Enters Into Consent Order With Mortgage Servicer Resolving Allegations of Improper Foreclosure Practices

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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

Goodwin

CFPB Enters into Consent Orders with Reverse Mortgage Servicers for $16.5 Million

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On ​​​​​​​June 18, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it has entered into consent orders with two companies totaling $16.5 million in civil penalties and consumer redress​,...more

Saul Ewing LLP

CFPB Finds For-Profit Coding School Misrepresented Nature of Its Lending Products and Job Placement Rates

Saul Ewing LLP on

The Consumer Financial Protection Bureau continues to expand its presence into different businesses, including for-profit colleges. On April 17, 2024, the CFPB issued a consent order against a for-profit college for computer...more

Goodwin

CFPB Enters Into Consent Order with For-Profit Coding School

Goodwin on

​On April 17, 2024, the Consumer Finance Protection Bureau (CFPB) announced ​that it had entered into a consent order​ with BloomTech Inc., d/b/a Bloom Institute of Technology (BloomTech), and BloomTech’s CEO, Austen Allred,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Brings String of Enforcement Actions to Round Out 2023

In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more

Ballard Spahr LLP

CFPB enters into consent order with third-party collector of medical debts to resolve alleged FCRA and FDCPA violations

Ballard Spahr LLP on

The CFPB announced last week that it has entered into a consent order with Commonwealth Financial Systems, Inc. (Commonwealth), a third-party debt collection company that collects past-due medical debts and furnishes...more

Hudson Cook, LLP

CFPB Orders Regional Bank to Pay $6.2 Million Related to Checking Account Overdraft Fees

Hudson Cook, LLP on

On December 7, 2023, the CFPB issued an order against a regional bank in Richmond, Virginia. The consent order alleges that the bank charged consumers overdraft fees without getting the proper consent and misled its customers...more

Goodwin

CFPB Enters Into $60M Consent Order with Vehicle Lending Credit Corporation

Goodwin on

On November 20, 2023, the Consumer Financial Protection Bureau (CFPB​​) announced that it entered into a consent order with the auto-financing arm of a major automaker in the amount of $60 million, resolving allegations...more

Hudson Cook, LLP

CFPB Fines Fintech Installment Lender $15 Million for Alleged Consent Order Violations

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On November 15, 2023, the Consumer Financial Protection Bureau announced that a nonbank installment lender agreed to settle allegations that it was violating a 2019 consent order. The Company is a publicly traded online...more

Hudson Cook, LLP

CFPB Agrees to Settlement with Credit Repair Companies for $2.7 Billion And Ten-Year Industry Ban

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In May 2019, the CFPB initially sued six associated companies for allegedly violating the Consumer Financial Protection Act's prohibition against deceptive practices and the Telemarketing Sales Rule ("TSR")....more

Goodwin

CFPB Enters into Consent Orders with Mortgage Loan Originator and Real Estate Brokerage Firm for Illegal Kickbacks

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On August 17, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it had taken action against a residential mortgage loan originator that provided illegal incentives to real estate brokers and agents in...more

Hudson Cook, LLP

CFPB Fines Residential Mortgage Loan Originator $1.75 Million for Kickbacks Involving Referrals to Originator by Brokers

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The Real Estate Settlement Procedures Act prohibits mortgage loan originators from offering incentives to other companies in exchange for referring homebuyers to them for mortgage loans. The Bureau alleged that the...more

Ballard Spahr LLP

CFPB and OCC announce consent orders with Bank of America involving deposit account representment fees and credit cards

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The CFPB and the OCC announced that they have each entered into a consent order with Bank of America, N.A. for alleged violations arising from the Bank’s representment fee practices (“Fee Consent Orders”). The CFPB also...more

Hudson Cook, LLP

CFPB Fines Large National Bank for Withholding Credit Card Rewards, Charging Multiple Non-sufficient Fund Fees, and Opening...

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On July 11, 2023, the CFPB announced two consent orders against a large national bank, settling allegations that the bank illegally charged consumers multiple non-sufficient fund fees for the same transaction, withheld cash...more

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