Tag Archives: Enforcement Action

Less than a week after having a new Director sworn in, the Consumer Financial Protection Bureau announced its first enforcement action of the Rohit Chopra era, assessing $6 million in fines and penalties against a company that offers financial services products to individuals incarcerated and recently released from prisons and …

A debt collection company based in Atlanta and its owners have been permanently banned from the industry and will pay $266,000 out of a $3 million penalty under the terms of a settlement announced by the Federal Trade Commission, which had sued the company and its owners for threatening to …

The Attorney General of West Virginia has filed a lawsuit in state court seeking to fine a New York collection agency for operating in the state without a license as well as ban the company from collecting debts in the Mountain State. The suit was filed after the company signed …

The California Department of Financial Protection and Innovation has issued its first enforcement action against a debt buyer and debt collector, fining a firm $375,000 for allegedly breaking state and federal law by unlawfully threatening to sue consumers and submitting negative information to credit bureaus without notifying consumers. A copy …

The Consumer Financial Protection Bureau has filed a lawsuit against a software provider for allegedly helping illegal credit repair businesses break federal law and seeks relief for consumers who have been harmed, an injunction to stop what they have allegedly been doing, civil fines, and returning the money they have …

The Attorney General of Colorado has reached a settlement with one of the nation’s largest subprime auto lenders that will see the company pay more than $3 million in consumer relief while also requiring it to amend its origination and collection practices, including not requiring consumers to make payments through …

The Attorney General of Washington has reached a settlement with a collector that it sued last year, which will see the collector pay $1.6 million in fines and restitution to consumers for allegedly deceiving them by making settlement offers in collection letters even though the collector could not enforce the …

The Consumer Financial Protection Bureau yesterday announced an enforcement action against an income share agreement provider that was accused of misrepresenting its product and failing to comply with federal law governing private student loans. The consent order, against Better Future Forward, requires the company to stop misleading borrowers, eliminate prepayment …

The Attorney General of Massachusetts has reached a settlement with a debt collection that will see the collector pay $2.25 million and agree to change its business practices after it was accused of violating the state’s law on call frequency, collecting on time-barred debts without disclosing that the debts were …

The Attorney General of Massachusetts has announced a consent order with a debt settlement company that will pay $1 million to settle claims it took advantage of consumers by charging them “significant” fees for negotiating settlements with creditors and enrolling consumers in “unaffordable” programs that left consumers “in worse financial …