Tag Archives: Enforcement Action

CFPB Announces First Enforcement Action Under New Leadership

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The post-Kraninger Consumer Financial Protection Bureau announced its first enforcement action yesterday, and while it might not directly relate to the accounts receivable management industry, there are a number of insights that the industry can and should glean from the news. In conjunction with the Attorneys General of Virginia, New …

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Mass. AG Settles Lawsuit With Student Loan Servicer

The Attorney General of Massachusetts has announced a “first-of-its-kind” settlement with a student loan servicer that had been sued for allegedly engaging in unfair and deceptive practices that will require it to audit all 200,000 of its accounts in the state to determine if an error or misrepresentation was made …

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Compliance Digest – January 4

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H. Bedard, Jr., or call (678) 253-1871. Every week, …

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CFPB Fines Santander $4.75M for FCRA Violations

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The Consumer Financial Protection Bureau yesterday announced it had issued a consent order against Santander Consumer USA, accusing it of violating the Fair Credit Reporting Act by furnishing accurate information to credit reporting agencies and fining the nonprime auto lender $4.75 million. A copy of the consent order is available …

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CFPB Fines USAA $15.5 Million For Stop Payment Issues

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The Consumer Financial Protection Bureau assessed $15.5 million in fines and penalties against USAA Federal Savings Bank yesterday for allegedly failing to honor requests from customers to stop payments on preauthorized electronic funds transfers and failing to initiate and complete error resolution investigations. It was the agency’s first public enforcement …

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