Post-Election Analysis and Its Impact on the Debt Settlement Industry
Consumer Finance Monitor Podcast Episode: Recent Developments Affecting Student Loan Origination and Servicing
State AG Pulse | Action By MN AG Ellison Could Ripple Through Debt Servicing Industry
In this month's article, we share some of our top "bites" covered during the August 2025 webinar....more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
The CFPB has taken action to permanently ban Student Loan Pro and its owner, Judith Noh, from offering consumer financial products or services....more
On December 4, the CFPB filed a proposed stipulated judgment against a student loan debt-relief company and its owner to resolve its 2021 action against defendants for allegedly charging borrowers more than $3.5 million in...more
On May 20, the CFPB released its consent order and stipulation against a debt relief provider for alleged deceptive acts and practices in violation of the CFPA and for alleged deceptive telemarketing practices and collection...more
On May 20, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based telemarketer that offered student loan debt relief services resolving...more
On May 20, 2024, the CFPB announced a settlement with a telemarketing company that offers student loan debt relief services to resolve allegations that it violated the Telemarketing Sales Rule ("TSR") and the Consumer...more
In this month's article, we share some of our top "bites" covered during the February 2024 webinar....more
With federal student loans approaching $1.7 trillion, private student loans approaching $129 billion, strident consumer group advocacy, and national elections on the horizon, student loan origination and servicing continues...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more
HIGHLIGHTS: The CFPB announced a complaint against a single defendant - the owner of a student loan debt relief company - concerning unauthorized charges and withdrawals from student borrower accounts in violation of the...more
The CFPB announced an $11 million resolution of Telemarketing Sales Rule and Consumer Financial Protection Act claims against debt-relief payment processors and two individuals for allegedly collecting improper fees from...more
CFPB filed a proposed stipulated final judgment to resolve allegations against affiliated debt relief companies and their top executive concerning alleged wrongful fee-charging practices and deceptive telemarketing in...more
Student Lending CFPB Enforcement: Alleging Impermissible Debt Relief Service Advance Fees - Director Kraninger has outlined in various settings, the Bureau’s focus on protecting those often most vulnerable, including...more
On March 10, 2020, the CFPB will host a day-long event entitled, “Evolutions in Consumer Debt Relief.” The event will explore options for consumers facing unmanageable unsecured debt and limited credit options....more
The CFPB has published a notice in the Federal Register announcing that it is seeking applications for membership on its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic...more
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
The CFPB, joined by the Minnesota Attorney General’s Office, North Carolina Department of Justice, and the Los Angeles City Attorney, filed a lawsuit in the U.S. District Court for the Central District of California against...more
The FTC announced settlements of two lawsuits filed in a California federal district court alleging similar violations of the FTC Act, the Telemarketing Sales Rule (TSR), and the Truth in Lending Act by providers of student...more
The debt settlement industry received some "regulation by enforcement" in the wake of a settlement of the lawsuit filed by the Consumer Financial Protection Bureau ("CFPB") against Freedom Debt Relief, LLC ("FDR"). The...more
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
Last week, the CFPB published a blog post with tips for consumers facing a cash flow emergency. We were glad to see that the blog post included a warning to consumers about debt relief or settlement companies. ...more
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
The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation - Enforcement Action Against Santander Bank - ...more
The U.S. District Court for the Western District of Wisconsin ruled on July 20, 2016, that the Consumer Financial Protection Bureau (CFPB) may hold the owners of two law firms offering debt relief services liable for alleged...more