Financial Institutions, Enforcement Actions, Telemarketing Sales Rule

District court approves CFPB’s $43M penalty against company owner

Orrick, Herrington & Sutcliffe LLP on 5/12/2025

On May 1, the U.S. District Court for the Northern District of Illinois approved the CFPB’s request for restitution and a civil monetary penalty against a defendant for violations of the CFPA and the Telemarketing Sales Rule....more

CFPB and Massachusetts AG Win $50M Judgment Against Credit Repair Services Company

Troutman Pepper Locke on 10/29/2024

A federal district judge in Massachusetts entered a nearly $51 million judgment against Commonwealth Equity Group LLC (d/b/a Key Credit Repair) and its CEO after granting summary judgment in favor of the Consumer Financial...more

CFPB, Credit Repair Cloud Reach Deal Over Illegal Marketing Allegations

Ballard Spahr LLP on 8/22/2024

The CFPB and Credit Repair Cloud, have reached agreement over allegations that the firm helped other credit repair businesses charge illegal fees to consumers....more

CFPB Bites of the Month - April Top 10

Hudson Cook, LLP on 4/27/2021

Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. In this month's article, we...more

FTC takes action and fines loan servicer: How to avoid being the subject of the next case

Bricker Graydon LLP on 4/26/2019

Loan servicers, beware! The Federal Trade Commission (FTC) recently issued a large fine to a loan servicer, based on Unfair or Deceptive Acts or Practices (UDAP) standards. ...more

FTC Uses Consumer Complaints to Combat Alleged Robocalls

Goodwin on 8/10/2017

The Federal Trade Commission (FTC) is using consumer complaints in its effort to quell alleged illegal robocalls. On September 1, 2009, the FTC issued rules prohibiting robocalls made without a consumer’s prior written...more