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Consumer Financial Products Financial Services Industry Debt Management Companies

Orrick, Herrington & Sutcliffe LLP

Colorado extends and amends law for debt-management service providers

On May 22, the Governor of Colorado approved HB 1251 (the “Act”) which will extend the regulation of debt-management service providers through September 1, 2035 (without legislative action, the relevant law would have been...more

Troutman Pepper

Colorado AG Settles With Debt Management Company Over Failure to Provide Customers With Signed Agreements

Troutman Pepper on

On November 3, Colorado Attorney General (AG) Phil Weiser announced that his office reached a settlement with Touchstone Partners, Inc. (Touchstone), a noted debt management company. The AG’s allegations were that Touchstone...more

Ballard Spahr LLP

CFPB files lawsuit against finance companies alleging UDAAP violations arising from “loan churning” practices

Ballard Spahr LLP on

The CFPB has filed a lawsuit in a South Carolina federal district court against Heights Finance Holding Co. f/k/a Southern Management Corporation and a group of its wholly-owned, state-licensed subsidiaries (collectively,...more

Goodwin

Colorado Attorney General Reaches Settlement with Affiliated Lender and Debt Management Company

Goodwin on

​On December 14, 2022, the Colorado Attorney General (AG) announced ​that it entered into a consent order​ with a California-based debt management company and its sister lending company, resolving the AG’s examination...more

Ballard Spahr LLP

Google updates financial products and services policy to restrict advertising of debt relief services

Ballard Spahr LLP on

Google has updated its financial products and services policy to restrict the advertisement of debt settlement, debt management services, and credit repair services....more

Ballard Spahr LLP

Colorado Attorney General Bans Financial Services Companies from State for Alleged Conflict of Interest

Ballard Spahr LLP on

The Colorado Attorney General reached a $175,263 settlement with a lender and a debt management company that are owned and operated by the same individuals. The Colorado Attorney General alleged the companies violated...more

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