News & Analysis as of

Enforcement Actions Consumer Protection Laws Consumer Lenders

Goodwin

FTC Files Proposed Order To Resolve Allegations of Purportedly Unlawful Student Loan Debt Relief Operation

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On May 22, 2025, the FTC filed a proposed stipulated ord​er in the District Court for the Middle District of Florida to resolve allegations ​that several individuals ​and the student loan debt relief companies that they...more

Troutman Pepper Locke

NY AG Reaches $3.2M in Settlements With 8 New York Nissan Dealerships

Troutman Pepper Locke on

New York Attorney General (AG) Letitia James’ office has reached a cumulative total of $3.2 million in settlements with eight Nissan dealerships that the office accuses of overcharging New Yorkers for purchasing leased...more

Orrick, Herrington & Sutcliffe LLP

CFPB ceases special supervision against installment lender

On May 22, an installment lender disclosed in a securities filing that the CFPB recently withdrew a 2023 order designating the company for supervision. As previously covered by InfoBytes, the CFPB claimed special oversight...more

Orrick, Herrington & Sutcliffe LLP

CFPB seeks withdrawal from auto finance suit

On April 24, the CFPB filed a memorandum in support of a consent motion to withdraw as a plaintiff in its enforcement action in the U.S. District Court for the Southern District of New York. The case involves the CFPB and the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Drops Two More Major Lawsuits 

The CFPB has recently dismissed two more enforcement actions—one against a major credit reporting agency and another against a lease-to-own financing provider. Both lawsuits involved allegations of abusive, unfair, and...more

Orrick, Herrington & Sutcliffe LLP

CFPB will continue prosecution of lender, alleging violations of Military Lending Act and UDAAP

On February 28, the CFPB submitted a letter to the U.S. SDNY advising it will continue to pursue a lawsuit from 2022 alleging a lender violated the Military Lending Act and UDAAP provisions of the CFPA. As previously covered...more

Sheppard Mullin Richter & Hampton LLP

California DFPI Reaches Settlement with Lender Over Crypto-Backed Loans

On December 23, 2024, the California Department of Financial Protection and Innovation (DFPI) announced a consent order with a lender to resolve its investigation into the company’s crypto-backed lending program, which the...more

Orrick, Herrington & Sutcliffe LLP

CFPB voluntarily dismisses enforcement action with prejudice

On February 21, the CFPB voluntarily dismissed its case against an online lending platform, ending a suit filed in May 2024. As previously covered by InfoBytes, the CFPB sued the platform last spring, alleging it violated the...more

Orrick, Herrington & Sutcliffe LLP

District Court orders CFPB to indicate whether it intends to continue prosecution of ongoing case

On February 7, the U.S. SDNY denied a lender’s request for leave to file a motion to stay litigation brought by the CFPB, but ordered the CFPB to inform the court whether it continues to prosecute the action. The underlying...more

Sheppard Mullin Richter & Hampton LLP

CFPB Issues Warning on Risks of Home Equity Contracts, Takes Legal Action to Ensure Compliance with TILA

On January 17, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report, consumer advisory, and filed an amicus brief addressing the risks associated with home equity contracts (HECs)—financial products often...more

Sheppard Mullin Richter & Hampton LLP

CFPB Announces Plans to Regulate Nonbank Personal Loan Providers

On January 8, the CFPB announced its intent to pursue rulemaking that would allow the agency to oversee nonbank personal loan lender. The announcement came in response to a petition filed in September 2022 by the Consumer...more

Bennett Jones LLP

Lower Criminal Interest Rate Now in Effect

Bennett Jones LLP on

As detailed in our prior blog the Government of Canada proposed amendments to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the prior criminal interest rate, being an effective rate of 60...more

Mayer Brown

Discussing Consumer Protection Risk with John Sonsalla and Hugo Dante

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In this episode, Matt Bisanz interviews John Sonsalla and Hugo Dante of Washington Analysis to discuss developments in the world of consumer protection risk....more

Goodwin

Massachusetts Attorney General Settles Claims Against California-Based Financing Company for $625,000

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​On May 22, 2024,​ the Massachusetts Attorney General (MA AG) announced it entered into an Assurance of Discontinuance (AOD) with a California-based financing company resolving allegations of violations of the Massachusetts...more

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