CFPB Secures $12 Million From Ringleaders of Foreclosure Relief Scam
The Consumer Financial Protection Bureau resolved an appeal in a long-running enforcement suit against a foreclosure relief scam operation for $12 million.
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CFPB and Seven State Attorneys General Sue Debt-Relief Enterprise, Strategic Financial Solutions, for Illegally Swindling More Than $100 Million from Financially Struggling Families
The CFPB and state attorneys general sued Strategic Financial Solutions and its web of shell companies for running an illegal debt-relief enterprise.
CFPB Proposes Rule to Close Bank Overdraft Loophole that Costs Americans Billions Each Year in Junk Fees
The CFPB today proposed a rule to rein in excessive overdraft fees charged by the nation’s biggest financial institutions.
CFPB and Justice Department Sue Developer and Lender Colony Ridge for Bait-and-Switch Land Sales and Predatory Financing
The Consumer Financial Protection Bureau and the Justice Department sued Colony Ridge for operating an illegal land sales scheme and targeting Hispanic borrowers.
CFPB Orders U.S. Bank to Pay $21 Million for Illegal Conduct During COVID-19 Pandemic
The Consumer Financial Protection Bureau ordered U.S. Bank to pay nearly $21 million for keeping consumers from accessing unemployment benefits during the COVID-19 pandemic.
CFPB Shuts Down Commonwealth Financial Systems for Illegal Debt Collection Practices
The Consumer Financial Protection Bureau took action against Commonwealth Financial Systems for illegally trying to collect unverified medical debts.
CFPB Orders Atlantic Union Bank to Pay $6.2 Million for Illegal Overdraft Fee Harvesting
The Consumer Financial Protection Bureau (CFPB) today took action against Atlantic Union Bank for illegally enrolling thousands of customers in checking account overdraft programs.
CFPB Orders Bank of America to Pay $12 Million for Reporting False Mortgage Data
The Consumer Financial Protection Bureau (CFPB) today ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law.
CFPB and 11 States Order Prehired to Provide Students More than $30 Million in Relief for Illegal Student Lending Practices
The Consumer Financial Protection Bureau (CFPB) and 11 states announced today that student lender Prehired will provide more than $30 million in relief to student borrowers for making false promises of job placement, trapping students with “income share” loans that violated the law, and resorting to abusive debt collection practices when borrowers could not pay.
CFPB Orders Toyota Motor Credit to Pay $60 Million for Illegal Lending and Credit Reporting Misconduct
The Consumer Financial Protection Bureau (CFPB) today ordered Toyota Motor Credit Corporation to pay $60 million in consumer redress and penalties for operating an illegal scheme to prevent borrowers from cancelling product bundles that increased their monthly car loan payments.
CFPB Fines Repeat Offender Enova $15 Million for Violating Order, Deceiving Customers, and Withdrawing Funds Without Consent
The Consumer Financial Protection Bureau (CFPB) today ordered online lender Enova International Inc. to pay a $15 million penalty for widespread illegal conduct including withdrawing funds from customers’ bank accounts without their permission, making deceptive statements about loans, and cancelling loan extensions.
CFPB Orders Citi to Pay $25.9 Million for Intentional, Illegal Discrimination Against Armenian Americans
Citi singled out for discrimination applicants for certain credit card products whom it suspected of being of Armenian descent.
CFPB Takes Action Against Operator of Sendwave App for Illegally Cheating People on International Money Transfers
The Consumer Financial Protection Bureau (CFPB) today took action against Chime Inc. for deceiving consumers about the speed and cost of remittance transfers through its mobile app, Sendwave.
CFPB and FTC Take Actions Against TransUnion for Illegal Rental Background Check and Credit Reporting Practices
The CFPB and Federal Trade Commission took action against a rental screening subsidiary of the TransUnion conglomerate.
CFPB Sues Repeat Offender Freedom Mortgage Corporation for Providing False Information to Federal Regulators
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court today, alleging that Freedom Mortgage Corporation submitted legally-required mortgage loan data that was riddled with errors.
CFPB Orders Leasing Company Tempoe to Provide $36 Million in Penalties and Relief for Tricking Consumers and Hiding Contract Terms
The CFPB took action against Tempoe, LLC for tricking consumers into expensive leasing agreements by concealing the contract terms and costs, and failing to provide legally required disclosures.
CFPB Reaches Multibillion Dollar Settlement with Credit Repair Conglomerate
Largest credit repair brands in America, including Lexington Law and CreditRepair.com, perpetrated yearslong scheme to illegally harvest billions in fees.
CFPB Sues Installment Lending Conglomerate for Illegally Churning Loans to Harvest Hundreds of Millions in Loan Costs and Fees
A CURO Group Holdings Company, Heights Finance, formerly known as Southern Management Corporation, induced struggling customers into a fee-harvesting and loan-churning scheme.
CFPB Penalizes Freedom Mortgage and Realty Connect for Illegal Kickbacks
Lender provided incentives to Realty Connect and other brokerages in exchange for mortgage referrals
CFPB Sues USASF Servicing for Illegally Disabling Vehicles and for Improper Double-Billing Practices
The CFPB filed a lawsuit in federal court against auto-loan servicer USASF Servicing for a host of illegal practices that harmed individuals with auto loans.
CFPB Sues Snap Finance for Illegally Luring Americans into Expensive Financing and Bullying Borrowers Using False Threats
The CFPB sued lease-to-own finance company Snap Finance for deceiving consumers, obscuring the terms of its financing agreements, and making false threats.
State Partners and CFPB Sue Prehired For Illegal Student Lending Practices
Today, the Consumer Financial Protection Bureau (CFPB) joined with several state attorneys general and a state regulator to take action against Prehired for deceptive marketing and debt collection practices.
CFPB Takes Action Against Bank of America for Illegally Charging Junk Fees, Withholding Credit Card Rewards, and Opening Fake Accounts
Today, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay more than $100 million to customers for systematically double-dipping on fees imposed on customers with insufficient funds in their account.
CFPB Takes Action Against ACI Worldwide for Illegally Processing $2.3 Billion in Mortgage Payments that Homeowners Did Not Authorize
CFPB issues order against payment processor ACI Worldwide Corp. and its subsidiary ACI Payments Inc. (ACI) improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions. This is the CFPB’s first action addressing unlawful data handling practices in processing mortgage payments.
CFPB Takes Action Against Phoenix Financial Services for Illegal Medical Debt Collection and Credit Reporting Practices
The Consumer Financial Protection Bureau (CFPB) took action against medical debt collector Phoenix Financial Services (Phoenix) for numerous debt collection and credit reporting violations.