Charles Washburn Jr.

Manatt, Phelps & Phillips, LLP

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CFPB Takes Action Against Mortgage Lender Targeting Veterans, Imposes $2M Penalty

Why it matters - Alleged deceptive marketing by a mortgage lender to veterans was at the heart of the Consumer Financial Protection Bureau’s (CFPB) latest enforcement action. NewDay Financial, LLC, “profited from the...more

3/3/2015 / Consumer Financial Products , Consumer Financial Protection Bureau (CFPB) , Enforcement Actions , Military Service Members , Mortgage Lenders , Veterans Administration

Subprime Credit Card Company Ordered to Pay $3M by CFPB

Why it matters - Pursuant to a consent order entered into with the Consumer Financial Protection Bureau (CFPB), Continental Finance Company must refund $2.7 million to approximately 98,000 customers and pay a $250,000...more

3/2/2015 / CARD Act , Consent Order , Consumer Financial Products , Consumer Financial Protection Bureau (CFPB) , Credit Cards , Excessive Fees , Misrepresentation

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