Tag Archives: Enforcement Action

A proposed stipulated judgment has been filed in federal court that would bring an end to an enforcement action brought by the Consumer Financial Protection Bureau and the Attorney General of New York against a series of individuals operating more than a half-dozen different companies all out of the same …

The Consumer Financial Protection Bureau yesterday announced the completion of an enforcement order against a pair of payment processing companies that worked with debt relief organizations — as well as the owners of the companies — ordering the defendants to pay $11 million in restitution to consumers and fines. The …

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Bank of America, in which the nation’s second-largest financial institution will pay a fine of $10 million after it was accused of unlawfully garnishing $592,000 from its customers’ bank accounts. A copy of the settlement order can be accessed …

The Consumer Financial Protection Bureau has filed a proposed order seeking to bring an end to an enforcement action against a pair of debt relief companies and their owner, which would ban the owner from the debt relief industry for five years and require him to pay a $30,000 fine, …

The Attorney General of Massachusetts has reached a settlement approaching $1 million with a finance company accused of engaging in illegal collection practices while attempting to collect on leases used to purchase pet dogs, which is also illegal in Massachusetts. Under the terms of the settlement, Monterey Financial Services will …

If you drew a Venn diagram of two circles, and used recent comments and announcements from the Consumer Financial Protection Bureau to fill them in, you would have one circle that was labeled “credit reporting agencies” and one circle that was labeled “repeat offenders.” Those are the two targets that …

The Consumer Financial Protection Bureau on Thursday announced an enforcement action against a student loan servicing company, fining it $1 million for allegedly making deceptive statements to borrowers and misrepresenting the forgiveness and repayment options related to the Public Service Loan Forgiveness program. The action, taken against Edfinancial, comes a …

An auto lender has agreed to pay $5.6 million as part of a settlement with the Attorney General of Massachusetts over its debt collection practices, the AG’s office announced on Friday, affecting more than 1,000 borrowers throughout the state. A copy of the assurance of discontinuance between the AG and …

The Attorney General of Georgia yesterday announced a settlement with a creditor accused of engaging in deceptive sales and marketing tactics while also allegedly violating the Fair Debt Collection Practices Act that will see the company pay nearly $150,000 in fines while also agreeing to make significant changes to its …

Three months after it was sued by the Consumer Financial Protection Bureau for violating a 2016 consent order for a number of alleged violations, LendUp Loans has agreed to stop making new loans and collecting on certain outstanding ones while also paying a fine of $100,000, the Bureau announced yesterday. …