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Consumer Financial Protection Act (CFPA) Consumer Financial Products Regulatory Violations

Ballard Spahr LLP

CFPB files and prosecutes yet another enforcement lawsuit using funds obtained in violation of the CFPB’s enabling statute...

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The Introduction to the Complaint which was filed by the CFPB on May 17, 2024 against Solo Funding, Inc. in the United States District Court for the Central District of California – Western Division Los Angeles (Judge R. Gary...more

Goodwin

CFPB Files Complaint Against Auto Loan Servicer

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On August 2, 2023, the CFPB announced that it had filed a complaint against a Georgia-based auto-loan servicer alleging “unfair acts and practices in violation of the Consumer Financial Protection Act of 2010 (CFPA), 12...more

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Bureau Sues Snap Finance for Its Financing Options to Asset Limited Consumers

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On July 19, 2023, the Consumer Financial Protection Bureau (“CFPB”) sued Snap Finance LLC, Snap R TO LLC, Snap Second Look LLC, Snap U.S. Holdings LLC, and Snap Finance Holdings LLC (collectively, the Snap Defendants or...more

BCLP

CFPB Highlights Debt Relief Practices in Student Lending

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Student Lending CFPB Enforcement: Alleging Impermissible Debt Relief Service Advance Fees - Director Kraninger has outlined in various settings, the Bureau’s focus on protecting those often most vulnerable, including...more

Ballard Spahr LLP

CFPB files lawsuit against companies and individuals involved in offering student debt relief services

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The CFPB filed a complaint last week in a California federal district court against several companies and individuals involved in offering student loan debt relief services for allegedly obtaining consumer reports unlawfully,...more

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CFPB and states file action against student loan debt relief companies and individual owners and managers

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The CFPB, joined by the Minnesota Attorney General’s Office, North Carolina Department of Justice, and the Los Angeles City Attorney, filed a lawsuit in the U.S. District Court for the Central District of California against...more

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CFPB continues to target pension advance products structured as purchases

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The CFPB and the South Carolina Department of Consumer Affairs have filed a lawsuit in federal district court in South Carolina against two companies and their individual owner that alleges the defendants violated the...more

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Consumer Financial Protection Bureau Files Complaint Alleging Defendants Engaged in Unlawful Conduct in Connection with Mortgage...

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On September 6, 2019, the Bureau filed a complaint in federal court in the Central District of California against Certified Forensic Loan Auditors, LLC (CFLA) and Andrew Lehman (Lehman) in connection with their offering,...more

Bradley Arant Boult Cummings LLP

CFPB Settles with Freedom Debt Relief

On July 9, 2019, the United States District Court for the Northern District of California entered a stipulated final judgment and order in case number 17-cv-06484, Consumer Financial Protection Bureau v. Freedom Debt Relief,...more

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CFPB files amicus brief in Third Circuit supporting PA AG

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The CFPB has filed an amicus brief in the U.S. Court of Appeals for the Third Circuit in the Pennsylvania Attorney General’s lawsuit against Navient Corp.  The PA AG’s lawsuit includes claims that Navient violated the...more

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Credit repair companies file motion to dismiss CFPB lawsuit for alleged deceptive marketing

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A motion to dismiss has been filed by the group of credit repair companies sued by the CFPB in Utah federal district court for alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act...more

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CFPB settles lawsuit with nation’s largest debt-settlement services provider

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The CFPB announced that it has settled the lawsuit it filed in a California federal district court against Freedom Debt Relief (FDR) and its CEO for alleged violations of the Consumer Financial Protection Act (CFPA) and the...more

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Virginia Attorney General obtains default judgment in lawsuit against pension advance company

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Virginia’s Attorney General has announced that “he has secured more than $50 million in debt relief and ordered civil penalties” as a result of his lawsuit filed in state court in March 2018 against Future Income Payments...more

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CFPB enters into consent order with small-dollar lender to settle alleged TILA and UDAAP violations arising from finance charge...

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The CFPB announced last week that it has entered into a consent order with Triton Management Group, Inc., a small-dollar lender, to settle the CFPB’s allegations that Triton had violated the Truth in Lending Act and the...more

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Federal jury convicts operator of payday lenders sued by CFPB and FTC

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Richard Moseley Sr., the operator of a group of interrelated payday lenders, was convicted by a federal jury on all criminal counts in an indictment filed by the Department of Justice, including violating the Racketeer...more

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