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Consumer Lenders › Interest Rates › Consent Order

Sheppard Mullin Richter & Hampton LLP

CFPB and Pawn Store Operator to Settle MLA Suit

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On May 30, the CFPB and a national pawn store operator filed a joint status report in the U.S. District Court for the Northern District of Texas announcing that they have reached an agreement to resolve a 2021 Bureau lawsuit...more

Sheppard Mullin Richter & Hampton LLP

CFPB Moves Forward with Military Lending Act Enforcement Against Installment Lender 

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On March 10, 2025, the CFPB informed the U.S. District Court for the Northern District of Texas that it will proceed with litigation against a short-term installment lender and its subsidiary for alleged violations of the...more

Goodwin

Minnesota AG Enters into Consent Order Over High-Cost Online Lenders, Discharging Over $1 Million in Loans

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On Tuesday, November 26, the Minnesota Attorney General’s office (AG) announced it filed a consent order to resolve allegations that online lenders were charging interest on loans in excess of the amounts prescribed under...more

Ballard Spahr LLP

FirstCash Files Motion for Partial Summary Judgment in Case Filed by CFPB

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FirstCash, a national pawnshop chain, is asking a federal judge to confirm that it has a statutory defense to all of the CFPB’s claims that it violated the Military Lending Act (MLA) while also asking the judge to drop three...more

Ballard Spahr LLP

CFPB announces proposed consent order with companies alleged to have collected loans void under state law

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The CFPB announced that it has entered into a proposed consent order with Think Finance and six subsidiaries (collectively, the “Think Entities’) to settle the Bureau’s lawsuit filed in November 2017 that alleged the Think...more

Goodwin

North Carolina AG Settles with Out-of-State Payday Lender for $825,000

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On January 27, 2020, North Carolina Attorney General Josh Stein (North Carolina AG) reached ?a settlement with an out-of-state payday lender for $825,000. The Attorney General obtained a consent temporary restraining order...more

Goodwin

California Department of Business Oversight Enters Into $900,000 Consent Order With Payday Lender

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On January 22, 2019, the California Department of Business Oversight (DBO) announced that it had entered into a consent order with a payday lender to resolve allegations that the company violated the California Financing Law,...more

Goodwin

CFPB and VA AG Take Action Against Pawnbroker

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On February 2, 2017, the Consumer Financial Protection Bureau (CFPB) and the Attorney General for the Commonwealth of Virginia (Virginia AG) announced the filing of a complaint and a stipulated consent order in the United...more

Ballard Spahr LLP

DOJ Settles Fair Lending Claims Based on Bank's Pricing Policy for Vehicle-Secured Loans

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The U.S. Department of Justice (DOJ) has announced a proposed consent order with Charter Bank to settle charges that the bank violated the Equal Credit Opportunity Act (ECOA) by discriminating on the basis of national origin...more

Dorsey & Whitney LLP

Why Does the CFPB Want to Curb Auto Lenders’ Discretion to Charge Higher or Lower Interest Rates?

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On July 14, 2015, the Consumer Financial Protection Bureau (“CFPB”) and Department of Justice (“DOJ”) announced they had reached a “groundbreaking settlement” with American Honda Finance Corporation (“Honda”).(1) The...more

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