On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher...more
9/16/2024
/ Banks ,
Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Deposit Accounts ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Regulation V ,
Settlement
Join Hudson Cook partners Julia Whitelock and Rob Tilley for a quarterly consumer and government enforcement litigation webinar. The webinars will feature a discussion of recent, notable cases involving the consumer financial...more
On May 18, 2024, the CFPB filed a proposed stipulated final judgment and order with the Company to resolve allegations that the Company violated a 2019 CFPB consent order, HMDA, its implementing Regulation C, and the CFPA....more
On February 8, 2024, after nearly a decade of litigation, the CFPB announced a final settlement for a total of $12 million with a Foreclosure Relief Company and four individual attorneys. The settlement resolves litigation...more
On December 19, 2023, the CFPB issued an administrative consent order alleging that a Minneapolis-based National Bank inappropriately froze the accounts of "tens of thousands" of recipients of unemployment benefits via...more
In May 2019, the CFPB initially sued six associated companies for allegedly violating the Consumer Financial Protection Act's prohibition against deceptive practices and the Telemarketing Sales Rule ("TSR")....more
8/30/2023
/ Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Financial Services Industry ,
Redress Payments ,
Stipulated Judgment ,
Telemarketing ,
Telemarketing Sales Rule
On June 8, 2023, the CFPB filed an administrative consent order against a medical debt collection company headquartered in Indianapolis, Indiana. In the order, the CFPB detailed several alleged violations of the Fair Credit...more
On December 20, 2022, the CFPB filed an administrative consent order against a National Bank headquartered in Sioux Falls, South Dakota. In the order, the CFPB detailed three ways that the Bank allegedly violated the Consumer...more
HIGHLIGHTS: CFPB fined the Fintech Company $2.7 million and ordered that it make at least $68,145 in consumer redress for overdraft fees and other costs incurred by consumers. The Fintech Company neither admitted nor denied...more
Since October 2021, when Rohit Chopra took over as Director, the Consumer Financial Protection Bureau ("CFPB") has taken a number of steps to assert its leadership role in the patchwork of regulatory jurisdiction and...more
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
HIGHLIGHTS: CFPB announced a $1 million resolution, via administrative consent order, of allegations that a small servicing company made deceptive statements to student loan borrowers relating to their forgiveness and...more