Regulation Through Enforcement: Insights From the BlueSnap Lawsuit — Payments Pros: The Payments Law Podcast
On May 20, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based telemarketer that offered student loan debt relief services resolving...more
On May 20, 2024, the CFPB announced a settlement with a telemarketing company that offers student loan debt relief services to resolve allegations that it violated the Telemarketing Sales Rule ("TSR") and the Consumer...more
Welcome to the Debt Collection and Debt Settlement chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Enforcement actions related to debt collection and debt...more
The Federal Trade Commission (“FTC”) recently entered into proposed stipulations with a group of student loan debt relief providers to resolve allegations that the group conducted deceptive marketing and sales practices in...more
The FTC settled with Express Enrollment LLC and Intercontinental Solutions LLC, as well as affiliated individuals, to resolve allegations the entities violated the FTC Act, the Telemarketing and Consumer Fraud and Abuse...more
On May 8, 2023 the FTC announced that it filed complaints against two loan forgiveness and debt relief companies on April 24, 2023 alleging that they falsely claimed to be affiliated with the Department of Education....more
On May 8, the FTC announced that the U.S. District Court for the Central District of California recently issued temporary restraining orders (TROs) against two student loan debt relief companies that allegedly tricked...more
In this month's article, we share some of our top "bites" for the prior month covered during the April 2023 webinar....more
CFPB filed a proposed stipulated final judgment to resolve allegations against affiliated debt relief companies and their top executive concerning alleged wrongful fee-charging practices and deceptive telemarketing in...more
On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade...more
On August 9, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a settlement agreement with a Tustin-based student loan debt relief company, resolving...more
On May 17, 2021, the Federal Trade Commission (FTC) announced a settlement with several student loan debt relief companies and their respective owners. The settlement stems from a complaint filed in 2019, in which the...more
On February 10, 2021, the Federal Trade Commission (FTC) announced that it will begin distributing over $1.7 million to consumers that it claims lost money as a result of an alleged student loan debt relief scheme. The...more
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
The Consumer Financial Protection Bureau (CFPB) reached an $18 million settlement with Monster Loans and a number of related companies and individuals for illegally obtaining credit reports to further an alleged student loan...more
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
On November 12, 2019, the Federal Trade Commission (FTC) announced that on it had filed a lawsuit against a collection of interrelated companies and individual defendants for allegedly misrepresenting themselves as affiliated...more
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
The FTC announced settlements of two lawsuits filed in a California federal district court alleging similar violations of the FTC Act, the Telemarketing Sales Rule (TSR), and the Truth in Lending Act by providers of student...more
On June 11, the Federal Trade Commission (FTC) announced that it had settled claims against an individual and his loan debt relief companies in connection with its coordinated federal-state enforcement initiative to target...more
On February 7, 2018, the Federal Trade Commission (“FTC”) announced an enforcement action against a student loan debt relief operation, claiming it deceived consumers out of $28 million by falsely promising that their monthly...more
The FTC has filed a lawsuit in a California federal district court against three interrelated student loan debt relief companies and the individual who is their majority owner for alleged violations of Section 5 of the FTC...more
The CFPB announced the filing of a proposed stipulated final judgment and order in its December 2014 lawsuit against Student Loan Processing.US (a fictitious business name of Irvine Web Works, Inc.) and its individual owner....more
On December 11, 2014, the CFPB filed two actions against debt relief companies. Complaint for Permanent Injunction and Other Relief, Consumer Fin. Prot. Bureau v. IrvineWebWorks, Inc., No. 8:14-cv-1967 (C.D. Cal. Dec. 11,...more