Legal News

Source: site The CFPB recently issued its Spring 2022 Supervisory Highlights, discussing findings from its examinations in connection with auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. This is the…

Source: site On April 29, the CFPB filed a proposed order in federal court seeking final judgment against three California-based defendants for engaging in unlawful fee-charging practices and deceptive telemarketing. According to the complaint, the defendants, a student loan debt relief business…

Source: site Although debt collection has been a longtime leading issue reported to the Consumer Financial Protection Bureau (CFPB), during the COVID-19 pandemic, another issue emerged as the nation’s number one consumer concern: credit reporting. Of the more than 800,000 credit…

Source: site On May 2, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Supervisory Highlights report on legal violations discovered during examinations in the second half of 2021. The Supervisory Highlights detail issues identified by CFPB examination teams across…

Source: site On April 8, the California Department of Financial Protection and Innovation (DFPI) filed a cross-complaint against a Chicago-based FinTech company alleging that as the “true lender” of consumer installment loans, it is subject to and also violated the Californian…

Source: site Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order to resolve its allegations that Performance SLC, a student loan debt relief business, and Performance Settlement, a general debt-settlement company, along with their owner and CEO,…

Source: site According to the Consumer Financial Protection Bureau, Americans’ most common debt collection complaints in 2021 were based on efforts to collect on a bill they said did not belong to them. In its April 2022 Complaint Bulletin, the CFPB found…

Source: site ALAMEDA, CA – Last week, the California Supreme Court declined to review the California Court of Appeal’s decision holding that bail bonds companies must follow consumer protection laws that protect Californians from exploitative business practices. The Court of Appeal’s…

Source-site NORFOLK, Va. — Federal prosecutors have filed a lawsuit accusing a Virginia company of illegally taking and selling service members’ vehicles. The lawsuit filed Friday accuses Steve’s Towing of Virginia Beach of illegally seizing and selling vehicles belonging to…

Source-site Annual report reveals scope of abuse in debt collection industry The Federal Trade Commission (FTC) issued its annual report on enforcement of the Fair Debt Collections Practices Act (FDCPA) today and revealed that its enforcement actions resulted in millions of dollars…