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State Attorneys General Debt Collection Financial Services Industry

Katten Muchin Rosenman LLP

State AGs and Legislatures Aren’t Taking a Summer Break From Consumer Protection and Financial Services Regulation

As the federal government scales back certain consumer protection and enforcement initiatives, state attorneys general and legislatures are rapidly filling the void — introducing new legislation, launching enforcement actions...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2025 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Kelley Drye & Warren LLP

Multistate Coalition Urges CFPB to Prioritize and Distribute Consumer Refunds

Last week, Washington Attorney General Nick Brown, a bipartisan coalition of attorneys general from ten other states, and the California Department of Financial Protection and Innovation wrote the Consumer Protection...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 6, 2025)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and at the state level. CFPB activity continues to be...more

Orrick, Herrington & Sutcliffe LLP

Philadelphia court receives usury claim against payday loan company

On March 11, a class action lawsuit was filed in the Philadelphia County Court of Common Pleas against a financial technology company offering cash advances up to $200 through a lending app. The lawsuit alleged the company...more

Ballard Spahr LLP

Wisconsin Appeals Court Rejects National Bank Act Preemption

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In a significant ruling on February 18, 2025, the Wisconsin Court of Appeals determined that National Bank Act (NBA) does not preempt the procedural “right to cure” notice requirements mandated by the Wisconsin Consumer Act...more

Sheppard Mullin Richter & Hampton LLP

New York AG Reaches $1 Billion Settlement with ‘Predatory’ Lender

On January 22, New York Attorney General Letitia James announced a $1 billion settlement with a now defunct cash advance firm and its officers. The settlement resolves allegations that the firm and its officers repeatedly...more

Hudson Cook, LLP

Yellowstone Capital Settles Lawsuit with New York Attorney General

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On January 16, 2025, Yellowstone Capital and other entities, along with Yellowstone officers Isaac Stern and Jeffrey Reece, settled claims by New York Attorney General Letitia James that Yellowstone and the other entities...more

Troutman Pepper Locke

New York Attorney General Settles $1 Billion Lawsuit Against Yellowstone Capital Over High-Interest Loans

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On January 22, New York Attorney General Letitia James announced a significant settlement with Yellowstone Capital of New Jersey and its affiliated companies over allegations of illegal high-interest loans disguised as...more

Orrick, Herrington & Sutcliffe LLP

Massachusetts AG settles with loan servicer over debt collection violations

Recently, the Massachusetts AG settled with a loan servicer (respondent) to resolve allegations that respondent violated Massachusetts foreclosure-prevention law, debt collection regulations, and federal mortgage servicing...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Hudson Cook, LLP

Technical Violations of State Collection Practices Laws Can Lead to Class Action Liability

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If you are reading this article, you are likely aware that a creditor collecting its own debts in its own name is not a "debt collector" under the federal Fair Debt Collection Practices Act ("FDCPA") or its implementing rule,...more

Troutman Pepper Locke

Massachusetts AG Settles With Major Student Loan Servicer for $1.8M Over Faulty Notices

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On January 11, Massachusetts Attorney General (AG) Andrea Joy Campbell announced a $1.8 million settlement with Nelnet, Inc. (Nelnet), one of the largest federal student loan servicers in the U.S., for allegedly sending...more

Orrick, Herrington & Sutcliffe LLP

Colorado Attorney General fines debt collector $500,000 for collecting on illegal loans

On January 16, the Colorado State Attorney General (AG) reached a settlement agreement with a third-party debt collection company that is ordered to pay $500,000 to the State. The company previously contracted to collect debt...more

Troutman Pepper Locke

Rent-A-Center Reached $8.75M Settlement With Massachusetts AG

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On November 28, Massachusetts Attorney General (AG) Campbell reached an $8.75 million settlement with Rent-A-Center (RAC), the nation’s largest rent-to-own company specializing in consumer goods leases. The settlement aimed...more

Troutman Pepper Locke

Delaware Bankruptcy Court Enters $30M Stipulated Judgment Over Deceptive Student Loan Practices

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On November 20, Delaware Attorney General (AG) Kathy Jennings, along with the Consumer Financial Protection Bureau (CFPB) and 11 other states, announced a settlement in excess of $30 million with Prehired LLC and affiliated...more

Troutman Pepper Locke

Colorado AG Settles With Debt Management Company Over Failure to Provide Customers With Signed Agreements

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On November 3, Colorado Attorney General (AG) Phil Weiser announced that his office reached a settlement with Touchstone Partners, Inc. (Touchstone), a noted debt management company. The AG’s allegations were that Touchstone...more

Cozen O'Connor

State AG Pulse | Action By MN AG Ellison Could Ripple Through Debt Servicing Industry

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Student loans have been much in the news and with federal loan payments restarting next month. Chris Allen and Keturah Taylor take a dive into the debt servicing world. They contend that an investigation by Minnesota AG Keith...more

Katten Muchin Rosenman LLP

Pennsylvania AG Settles With Snap for $11.4 Million: The Importance of Compliance for Consumer Finance Companies Operating in the...

On May 15, Pennsylvania Attorney General Michelle Henry (AG Henry) announced an $11.4 million settlement against Snap Finance LLC and its affiliates (Snap RTO LLC, Snap Second Look LLC, and Snap Finance Holdings, LLC) (Snap)...more

Sheppard Mullin Richter & Hampton LLP

Massachusetts AG Settles Enforcement Action Against Auto Lender

On February 2, the Massachusetts Attorney General announced that her office entered into an assurance of discontinuance with an auto loan provider to settle allegations of certain illegal auto loan collection practices....more

Hudson Cook, LLP

CFPB and New York AG Announce Settlement that Includes Permanent Industry Bans Against Debt Collection Companies and Employees

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HIGHLIGHTS: CFPB and the New York Attorney General ("NY AG") announced a proposed settlement of a lawsuit—originally filed in September 2020—against six interrelated companies and five individual defendants. The various...more

Goodwin

New York AG Recovers $1.2 Million from Debt Collection Company

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On November 23, 2021, New York Attorney General Letitia James (“New York AG”) announced that her office entered into an agreement with a debt collection company to resolve allegations that the company violated the Fair Debt...more

Cozen O'Connor

The State AG Report - Volume 7, Issue 33 | August 2021

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Expensive Pets: Scammer Sells Badly Behaved...more

Goodwin

Pennsylvania AG Settles with Student Loan Debt Buyer for $2.6 Million

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On April 6, 2021, the Pennsylvania Attorney General (Pennsylvania AG) announced that it reached an agreement with a Texas-based debt buyer concerning a portfolio of student loan debt it purchased from a now-defunct for-profit...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - September 2020

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

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