On May 6, 2021, the CFPB’s Office of Servicemember Affairs issued its eighth annual report summarizing its activities from January 1 through December 31, 2020. The report discussed the Office’s consumer outreach and...more
In a blog post published on January 28, 2021 sharing a statement sent to CFPB staff, Acting Director David Uejio announced several new priorities for the CFPB’s Supervision, Enforcement and Fair Lending Division under the...more
On December 30, 2020, the CFPB announced a consent order with Omni Financial of Nevada, Inc. based on alleged violations of the Military Lending Act (MLA) and Electronic Funds Transfer Act (EFTA). This is the second consent...more
Continuing our series of blog posts breaking down the CFPB’s final debt collection rule, we now discuss the use of email and text messages, and how to qualify for a safe harbor from civil liability for unintentional third...more
In the next in our series of blog posts breaking down the CFPB’s final debt collection rule, we now turn to a discussion of how to understand and comply with the final rule’s inconvenient time and place provisions. For the...more
Last week, the FTC released two new reports about the agency’s findings from an April 2017 study of consumers’ experiences with the car buying process. The FTC’s Bureau of Consumer Protection (BPC) authored a summary report...more
Less than a week after warning subpoena and CID recipients to take their obligation to respond “seriously,” the FTC took aim at perceived inadequacies in compliance reports submitted pursuant to FTC consent orders and...more
The CFPB filed suit against J.G. Wentworth, LLC on June 7, 2016 after the company challenged the Bureau’s expansive view of its jurisdiction.
The CFPB served a CID against J.G. Wentworth, LLC on September 11, 2015 to...more
6/20/2016
/ Annuities ,
Civil Investigation Demand ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Adviser ,
Financial Institutions ,
Jurisdiction ,
Popular ,
Structured Settlements ,
Truth in Lending Act (TILA) ,
UDAAP
The CFPB has entered into a consent order with Westlake Services, LLC, an indirect auto finance company, and its wholly owned subsidiary, Wilshire Consumer Credit, LLC, for alleged deceptive debt collection practices. The...more
10/5/2015
/ Automotive Industry ,
Automotive Loans ,
Borrowers ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Criminal Prosecution ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Financial Institutions ,
Lenders ,
Motor Vehicles ,
Redress Payments ,
Repossess ,
Title Loans ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
A meeting of the CFPB’s Credit Union Advisory Council has been scheduled for October 8, 2015 at the CFPB’s offices in Washington, DC. The agenda indicates that the “Council will discuss consumer challenges in payments.”...more
Consistent with its continued focus on student lending, the CFPB issued a new request for information regarding student loan servicing. The request for information seeks input from the public regarding all aspects of student...more
As we reported earlier this year, the CFPB was actively investigating a company called 3D Resorts-Bluegrass, LLC for possible violations of the Interstate Land Sales Full Disclosure Act (ILSA)....more
On March 12, 2013, the CFPB filed a new amicus brief supporting the consumer/appellee’s position that the Interstate Land Sales Full Disclosure Act (ILSA) applies to condominium units, even where the unit does not also...more