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Consumer Financial Protection Bureau (CFPB) Redress Payments Financial Services Industry

Hudson Cook, LLP

[Webinar] Consumer Financial Services Bites of the Month: Evening in June with the CFPB - June 18th, 12:30 pm - 1:00 pm ET

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Please join Eric Johnson, Justin Hosie, and Kristen Yarows as they recap recent consumer financial services activities including the CFPB resuming its redress to consumers of a sales-training company, the City of Baltimore...more

Ballard Spahr LLP

CFPB takes action against company that provides commissary account services to prisoners

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The CFPB has taken action against Global Tel Link Corporation (GTL) over allegations that the company took millions of dollars from a half-million accounts and blocked money transfers to consumers who are incarcerated. Those...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

CFPB Settles Decade-Long Case Against Foreclosure Relief Company and Four Attorneys for $12 million

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On February 8, 2024, after nearly a decade of litigation, the CFPB announced a final settlement for a total of $12 million with a Foreclosure Relief Company and four individual attorneys. The settlement resolves litigation...more

Sheppard Mullin Richter & Hampton LLP

CFPB Files Action Against Fintech for Allegedly Violating Previous Order, Deceiving Customers, Withdrawing Funds Without Consent

On November 15, the CFPB issued an order requiring an Illinois-based fintech lender to pay $15 million in fines. The order additionally prohibits the company from operating in certain lines of business and requires revision...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

Cozen O'Connor

CFPB Sues Auto-Loan Servicer for Alleged “Kill Switch” Activation

Cozen O'Connor on

The CFPB filed a lawsuit against USASF Servicing, LLC for allegedly violating the Consumer Financial Protection Act of 2010 by engaging in illegal practices that harmed consumers with auto loans....more

Goodwin

CFPB Reaches $40.6 Million Agreement With Lender to Cease Operations

Goodwin on

On December 21, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it reached an agreement with a California-based fintech company that would require the company to cease “(1) making new loans; (2)...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

FTC files lawsuit against student loan debt relief companies

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The FTC has filed a lawsuit in a California federal district court against three interrelated student loan debt relief companies and the individual who is their majority owner for alleged violations of Section 5 of the FTC...more

Ballard Spahr LLP

CFPB sues nation’s largest debt-settlement services provider

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The CFPB has filed a lawsuit 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 Telemarketing Sales Rule (TSR). ...more

Ballard Spahr LLP

CFPB files complaint alleging defendants ran unlawful debt relief operation

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The CFPB has filed a complaint in a California federal district court against three law firms and two individual attorneys alleging that they offered debt relief services to consumers in violation of the Telemarketing Sales...more

Ballard Spahr LLP

CFPB enters into consent order with credit union

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The CFPB announced that it has entered into a consent order with Navy Federal Credit Union to settle allegations that the credit union engaged in unfair and deceptive collection practices in violation of the Consumer...more

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