News & Analysis as of

Enforcement Actions Fair Debt Collection Practices Act Consent Order

Sheppard Mullin Richter & Hampton LLP

FTC Permanently Bans Debt Collector for UDAP and FDCPA Violations

On April 30, the FTC filed a stipulated order for a permanent injunctive relief and a monetary judgment against a Georgia-based debt collection company and its owner, which the court granted on May 9, to resolve allegations...more

Sheppard Mullin Richter & Hampton LLP

FTC Imposed $9.6 Million Judgement Against Debt Collector for Alleged Threats and Phantom Debt

On April 30, 2025, the FTC filed an amended complaint and final order in the U.S. District Court for the Northern District of Georgia against a debt collection company in connection with allegations that the company engaged...more

Troutman Pepper Locke

FTC Bans Debt Collector and Imposes Substantial Penalty for Allegedly Coercing Consumers into Paying Debts Not Owed

Troutman Pepper Locke on

Last year, the Federal Trade Commission (FTC) filed suit in the U.S. District Court for the Northern District of Georgia, alleging Global Circulation, Inc. (GCI) and its owner, Kenneth Redon III, violated the FTC Act, Fair...more

Venable LLP

CFPB to Launch Registry of Nonbank Enforcement Actions

Venable LLP on

In a move that's sure to make nonbank financial institutions even more uncomfortable, the Consumer Financial Protection Bureau (CFPB) has decided to shine a brighter light on those that have been alleged to violate consumer...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

Hudson Cook, LLP

CFPB Orders Medical Debt Collection Company to Cease Certain Collection Practices and Pay $1.675 Million Penalty

Hudson Cook, LLP on

On June 8, 2023, the CFPB filed an administrative consent order against a medical debt collection company headquartered in Indianapolis, Indiana. In the order, the CFPB detailed several alleged violations of the Fair Credit...more

Ballard Spahr LLP

CFPB announces consent order with third-party collector of medical debt

Ballard Spahr LLP on

The CFPB announced at the end of last week that it had entered into a consent order with Phoenix Financial Services, LLC (Phoenix), a third-party debt collector that collects primarily past-due medical debts and furnishes...more

Troutman Pepper Locke

CFPB Enters Consent Order Against Medical Debt Collector for Alleged FCRA and FDCPA Violations

Troutman Pepper Locke on

On June 8, the Consumer Financial Protection Bureau (CFPB) announced that it had entered a consent order against medical debt collector Phoenix Financial Services for alleged violations of the Fair Credit Reporting Act (FCRA)...more

Goodwin

CFPB Announces $860,000 Settlement with Debt Collection Company for Alleged Deceptive Practices and CFPA Violations

Goodwin on

On April 6, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a third-party debt collection company and its former owner for alleged violations of the Consumer Financial...more

Goodwin

CFPB Settles with Debt Collection Company for Alleged CFPA and FDCPA Violations

Goodwin on

On December 8, 2020, the Consumer Financial Protection Bureau (Bureau) announced that it had entered into a consent order​ with a New Jersey debt collection company, resolving allegations that the debt collection company...more

Goodwin

CFPB Settles with Telecommunications Debt Collector for Alleged FCRA and CFPA Violations

Goodwin on

On November 12, 2020, the Consumer Financial Protection Bureau (CFPB) announced ​​that it had entered into a consent order with an Illinois-based debt collector that collects debts on behalf of telecommunications companies...more

Ballard Spahr LLP

Debt Collector Enters into Consent Order with CFPB to Settle Alleged FDCPA and UDAAP Violations

Ballard Spahr LLP on

Last week, the CFPB announced that that it had entered into a consent order with an Illinois-based debt collection company. According to the settlement, the company’s business consists primarily of purchasing and then...more

Davis Wright Tremaine LLP

What the Security Group Consent Order Suggests About the CFPB’s Direction

For many months, the Consumer Financial Protection Bureau (Bureau) has hinted it would focus its enforcement efforts on debt collection conduct. The Bureau’s settlement earlier this month with Security Group Inc., Security...more

Ballard Spahr LLP

CFPB announces settlement with consumer lenders charged with unlawful debt collection and credit reporting practices

Ballard Spahr LLP on

The CFPB announced that it has entered into a consent order with Security Group Inc. and its subsidiaries (Security Group) to settle an administrative enforcement action that charged the companies with having engaged in...more

Maynard Nexsen

The CFPB Enforcement Action Against Navy Federal Credit Union and the Broad Sweep of UDAAPs

Maynard Nexsen on

This past October, the Consumer Financial Protection Bureau (“CFPB”) took action against Navy Federal Credit Union, the largest credit union in the country. In doing so, the CFPB relied upon one of its favorite enforcement...more

Goodwin

FTC Announces Settlement with Municipal Debt Collector Over Alleged Abusive Debt Collection Practices

Goodwin on

On March 24, 2017, the Federal Trade Commission (FTC) announced? that it entered into a consent order with a debt collection company, resolving allegations that the company engaged in unfair and abusive debt collection...more

Goodwin

Financial Services Weekly News - March 2017

Goodwin on

Editor's Note - In This Issue. The New York Department of Financial Services issued its highly anticipated cybersecurity regulation in its final form, the Securities and Exchange Commission (SEC) issued updated guidance...more

Bradley Arant Boult Cummings LLP

Creditors and Debt Collectors Should Pay Close Attention to the CFPB’s Consent Order with Navy Federal Credit Union

The Consumer Financial Protection Bureau (CFPB) announced a consent order with Navy Federal Credit Union (Navy Federal) on October 11, 2016. While financial institutions should always analyze CFPB consent orders closely and...more

Sheppard Mullin Richter & Hampton LLP

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

Clark Hill PLC

Debt Collection Litigation in the Cross Hairs: CFPB's Consent Order Against New Jersey Law Firm Creates More Problems Than...

Clark Hill PLC on

Lightning can strike twice. With the ink barely dry on the Consent Order against the Hanna Law Firm (Hanna) in Georgia, the Consumer Financial Protection Bureau (CFPB or Bureau) yesterday took action against another debt...more

MoFo Reenforcement

CFPB Orders Auto Financer to Pay $48.3M for Misleading Borrowers

MoFo Reenforcement on

On September 30, 2015, the CFPB ordered an indirect auto lending company and its auto lending subsidiary to pay $48.3 million in fines for alleged FDCPA, TILA, and UDAAP violations. The CFPB alleges that the companies...more

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