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Debt Settlement Services

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Minnesota Attorney General Shuts Down Debt Settlement Companies

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On October 21, Minnesota Attorney General Keith Ellison announced a settlement with two debt settlement companies, Financial Solutions Group and Accelerated Debt Settlement....more

Cozen O'Connor

Minnesota AG Secures Order Against Tax Debt Settlement Company

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Minnesota Attorney General Keith Ellison has secured a court order against Wall & Associates, Inc., and associated individuals (collectively “Wall”) for their involvement in an alleged tax debt settlement scheme in violation...more

Shipkevich PLLC

CA DFPI Approves Third Set of Proposed Regulations for the Registration of Debt Settlement Companies and Other Providers

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On October 11, 2024, the California Department of Financial Protection and Innovation (DFPI) approved regulations submitted to the California Office of Administrative Law (OAL) under its authority granted by the California...more

Shipkevich PLLC

Colorado Bankruptcy Trustees Target Debt Settlement Service Providers with Ambitious Interpretation of Statutory Damages

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Colorado bankruptcy trustees have recently been increasing their focus on debt settlement companies and attorneys alleged to be performing services in violation of the Colorado Uniform Debt-Management Services Act (“CUDMSA”...more

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Pennsylvania AG Settles With Debt Services Law Firm

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Pennsylvania Attorney General (AG) Michelle Henry reached a settlement with attorney Erik Helbing and his business, Helbing Law Group, LLC, resolving allegations of deceptive advertising practices and failure to effectively...more

Ballard Spahr LLP

Pennsylvania AG Settles with Law firms over Alleged Deceptive Debt Settlement Services

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On January 24, 2024, Pennsylvania Attorney General, Michelle Henry announced a settlement with attorney Erik M. Helbing and his businesses Helbing Law, LLC, and Consumer Law Relief, LLC. (Respondents) to resolve alleged...more

Shipkevich PLLC

2023 Regulatory Recap of the Debt Settlement Industry Activity and 2024 Regulatory Forecast

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This article highlights the few newsworthy actions and events we wrote about the debt settlement industry throughout the year. The debt settlement industry did see some movement by regulatory bodies across the board, though...more

Mayer Brown

Licensing Link - The Latest Insights in Licensing Laws

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Welcome - Welcome to the first edition of Licensing Link, a new periodic publication that will keep you informed on hot topics and new developments in state licensing laws, and provide practice tips and primers on...more

Shipkevich PLLC

California DFPI Proposes Regulation to Implement Registration Requirements for Entities Covered Under California Consumer...

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The California Consumer Financial Protection Law (“CCFPL”), established in September of 2020 under Governor Newsom, augmented the Department of Financial Protection & Innovation’s (“DFPI”) authoritative ability by increasing...more

Troutman Pepper

Payment Processor Settles With Massachusetts Attorney General for Prematurely Sending Fees to a Debt Settlement Company

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On November 7, Massachusetts Attorney General Maura Healey announced a $600,000 settlement with Oklahoma-based payment processor Global Holdings. Attorney General Healey claimed that Global Holdings violated the Massachusetts...more

Cozen O'Connor

The State AG Report – 6.9.2022

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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: AG Bonta Secures Appellate Decision Blocking...more

Cozen O'Connor

AG Morrisey Recovers $500,000 from Debt Settlement Attorney

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West Virginia AG Patrick Morrisey has reportedly reached a settlement with California attorney Thomas Moore to resolve allegations that his legal corporation, Moore Legal Center, violated West Virginia’s Consumer Credit and...more

Goodwin

North Carolina AG Permanently Enjoins Debt Settlement Business

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On May 26, 2022, the North Carolina Attorney General (NC AG) announced that it obtained a default judgment against a California-based debt settlement business, and its proprietor. The lawsuit, filed on June 25, 2021 in the...more

Sheppard Mullin Richter & Hampton LLP

No Relief in Sight: CFPB and FTC Continue to Take Action Against Debt Settlement Companies

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...more

Cozen O'Connor

The State AG Report - Volume 7, Issue 35 | September 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: Not Just Fun and Games: Angry Birds Allegedly...more

Cozen O'Connor

Consumers Worse Off After Enrolling In Debt-Settlement Program

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Massachusetts AG Maura Healey reached a settlement with debt settlement company DMB Financial, LLC and its chief operating officer (collectively “DMB”) to resolve allegations that DMB used deceptive and unfair practices to...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Reverses Ruling in FDCPA Case

The U.S. Court of Appeals for the Second Circuit recently held that a debt collector’s settlement offer must indicate whether interest and fees are continuing to accrue on the outstanding debt, or alternatively, whether...more

Goodwin

CFPB and Debt Settlement Company Agree to Stipulated Final Judgment and Order

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On May 17, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it has entered​ into a stipulated judgment​ and order​ to resolve a civil action that it previously filed against a debt settlement company in...more

Troutman Pepper

CFPB Obtains $5.4 Million from Debt-Relief Service that Allegedly Charged Illegal Fees

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On May 17, the Consumer Financial Protection Bureau (CFPB) announced a settlement with DMB Financial LLC, a Massachusetts-based debt-settlement company....more

Goodwin

Virginia AG Settles with Student Debt Relief Company

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On March 3, Virginia’s Attorney General announced that the state reached a settlement with a student debt relief company for alleged Virginia Consumer Protection Act (VCPA) violations. The simultaneously filed complaint...more

Goodwin

Minnesota AG Settles with Student Loan Debt-Relief Company for Allegedly Unlawful Fee Collection

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On January 14, 2021, Minnesota Attorney General Keith Ellison (Minnesota AG​​) announced that his office reached a settlement with a California-based student loan debt-relief company that allegedly collected unlawful fees...more

Goodwin

CFPB Files Suit Against Debt Relief Company

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On December 1, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it filed suit against a Massachusetts debt settlement and relief company over alleged violations of the Telemarketing Sales Rule (TSR) and...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

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In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Ballard Spahr LLP

CFPB sues California debt-settlement firms for taking illegal advance fees

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Last week, the CFPB filed a lawsuit in a California federal district court against Performance SLC LLC, Performance Settlement, and Daniel Crenshaw, the owner and CEO of the two companies.  Performance SLC is a...more

Goodwin

CFPB Files Complaint Against Student Loan Debt Settlement Company

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On November 5, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had filed a complaint against a California student loan debt settlement company and the company’s CEO in the U.S. District Court for the...more

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