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Military Service Members Settlement Consumer Financial Protection Bureau (CFPB)

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CFPB reaches settlement with FirstCash in connection with alleged MLA Violations

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The CFPB has reached a settlement in its lawsuit against FirstCash, Inc. and its 19 subsidiaries alleging violations of the Military Lending Act (MLA). The parties have jointly filed a stipulated final judgment and proposed...more

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CFPB Continues to Target Misleading VA Mortgage Loan Advertisements

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On September 14, 2020, the Consumer Financial Protection Bureau (CFPB) announced a settlement in its eighth case arising out of the CFPB’s “sweep of investigations” of mortgage companies allegedly mailing deceptive...more

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CFPB Settles With VA Lender Regarding Claims of Deception

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The CFPB recently filed a complaint and a proposed stipulated final judgment and order to address claims that Village Capital & Investments LLC (Village) engaged in deceptive acts and practices in the solicitation of veterans...more

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CFPB settles action against provider of student financial aid assistance

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The CFPB has announced a proposed settlement with Student Financial Aid Services, Inc. (SFAS) to resolve charges that the company engaged in unlawful sales and billing practices in connection with offering fee-based financial...more

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CFPB sends warning letters on military allotment practices

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The CFPB announced that it sent warning letters this month to several companies that sell retail goods to military servicemembers regarding their acceptance of payments made through military allotments. The military...more

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CFPB announces settlement with processors of military allotments

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The CFPB has announced a settlement with two companies that processed military allotments and were alleged to have charged fees to servicemembers that the companies failed to adequately disclose. The consent order requires...more

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Has the SCRA been amended for everyone?

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Not only student loan servicers, but all companies, particularly those subject to the CFPB’s supervisory authority, face new compliance risk under the Servicemembers Civil Relief Act (the “SCRA”) as a result of the stunning...more

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