Newsroom
The Consumer Financial Protection Bureau granted a no-action letter to Upstart Network, Inc., regarding its automated model for underwriting and pricing applicants for unsecured, closed-end loans.
On November 20, 2020, the Consumer Financial Protection Bureau issued a consent order against U.S. Equity Advantage, Inc. and its owner, Robert M. Steenbergh.
On November 20, 2020, the Consumer Financial Protection Bureau filed a lawsuit against FDATR, Inc., and its owners, Dean Tucci and Kenneth Wayne Halverson.
On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).
The CFPB filed a complaint against a California debt-relief business focused on federal student loan debt, a California debt-settlement company, and the owner and CEO of the two companies.
The Consumer Financial Protection Bureau granted a no-action letter to Bank of America, N.A. regarding certain small-dollar credit products.
The Consumer Financial Protection Bureau today filed a lawsuit against Driver Loan, LLC, and its Chief Executive Officer, Angelo Jose Sarjeant, for allegedly engaging in deceptive acts or practices in taking deposits from and offering credit to consumers.
On November 2, 2020, the CFPB issued a consent order against SMART Payment Plan, LLC, finding that the company’s disclosures of its loan payment program contained misleading statements.
Today, the Consumer Financial Protection Bureau settled with Washington Federal Bank, N.A., a federally insured national bank, to address the Bureau’s finding that it reported inaccurate Home Mortgage Disclosure Act data about its mortgage transactions for 2016 and 2017.
On October 26, 2020, the Consumer Financial Protection Bureau issued a consent order against Low VA Rates LLC, which sent consumers mailers for mortgage loans guaranteed by the U.S. Department of Veterans Affairs that contained false, misleading, and inaccurate statements.
On October 15, 2020, the Consumer Financial Protection Bureau filed a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its subsidiaries.
The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide.
The Consumer Financial Protection Bureau issued a policy statement on applications for early termination of administrative consent orders.
‘Operation Corrupt Collector’ targets debt collectors trying to collect on non-existent debts, using illegal scare tactics.
The Consumer Financial Protection Bureau settled with Lobel Financial Corporation, an auto-loan servicer based in Anaheim, California.
The Consumer Financial Protection Bureau issued a consent order against ClearPath Lending, Inc. (ClearPath), a California corporation that is licensed as a mortgage broker or lender in about 22 states.
The Consumer Financial Protection Bureau, in partnership with the New York Attorney General, filed suit against a network of five different companies based outside of Buffalo, New York, two of their owners, and two of their managers, for their participation in a debt-collection operation using illegal methods to collect debts.
Today the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC; Midland Credit Management, Inc.; and Asset Acceptance Capital Corp.
The Consumer Financial Protection Bureau issued a consent order against Accelerate Mortgage, LLC (Accelerate), a Delaware limited liability corporation that is licensed as a mortgage broker and lender in about 31 states.
Today, the Consumer Financial Protection Bureau issued a consent order against Hypotec, Inc., a mortgage broker based in Miami, Florida that is licensed in eight states.
Today, the Consumer Financial Protection Bureau issued a consent order against Service 1st Mortgage, Inc. (Service 1st), a mortgage broker based in Glen Burnie, Maryland that is licensed in about 12 states.
Today the Consumer Financial Protection Bureau (Bureau) entered into settlements with Trans-Fast Remittance LLC and Sigue Corporation and its subsidiaries, SGS Corporation and GroupEx Corporation.
The Consumer Financial Protection Bureau issued a consent order against PHLoans.com, Inc. (PHLoans), a California corporation that is licensed as a mortgage broker or lender in about 11 states.
The Consumer Financial Protection Bureau issued a consent order against Go Direct Lenders, Inc. (Go Direct), a California corporation that is licensed as a mortgage broker or lender in about 11 states.
The Consumer Financial Protection Bureau announced a settlement with TD Bank, N.A. regarding its marketing and sale of its optional overdraft service: Debit Card Advance (DCA).
