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Settlement Non-Bank Lenders

Sheppard Mullin Richter & Hampton LLP

CFPB and DOJ Terminate Another Redlining Consent Order

On June 2, the U.S. District Court for the Eastern District of Pennsylvania terminated a 2022 consent order and dismissed with prejudice the CFPB and DOJ’s redlining lawsuit against a nonbank mortgage lender. The motion to...more

Latham & Watkins LLP

NY Attorney General Secures $1 Billion-Plus Judgment for Illegal Loans Misrepresented as Merchant Cash Advances

Latham & Watkins LLP on

On January 22, 2025, New York Attorney General (NYAG) Letitia James announced a judgment and settlement against cash advance provider Yellowstone Capital, its officers, and two dozen affiliates (Yellowstone) for more than $1...more

Sheppard Mullin Richter & Hampton LLP

CFPB Reaches Settlement in Redlining Suit Against Nonbank Mortgage Lender

On November 1, the CFPB filed a proposed stipulated final order that would resolve the Bureau’s pending lawsuit in the Northern District of Illinois against a nonbank mortgage lender and broker for allegedly engaging in...more

Buchalter

CFPB Proposes That Non-Bank Consumer Finance Companies Must (1) Register all Federal, State and Local Regulator Enforcement Orders...

Buchalter on

Registration of Regulator Orders and Court Judgments - On December 12, 2022, the CFPB issued a proposed rule regarding non-bank consumer finance firms registration of all settlements and enforcement orders. The proposed...more

Sheppard Mullin Richter & Hampton LLP

CFPB, DOJ Propose $22 Million Penalty Against Nonbank Mortgage Lender for Illegal Redlining

On July 27, the CFPB and DOJ proposed a settlement with a nonbank mortgage lender for its discriminatory “redlining” lending practices against minority families living in the greater Philadelphia area...more

Goodwin

Kansas AG Settles With Auto Credit Company For Improperly Disclaiming Warranties

Goodwin on

On August 19, 2016, the Kansas Attorney General announced a settlement with a Michigan-based auto credit company for “improperly disclaiming warranties in contracts with Kansas consumers in violation of the Kansas Consumer...more

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