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CFPB Alleges Weltman, Weinberg & Reis Deceived Consumers with Misleading Calls and Letters

Lawyers Revived an Illegal Debt Relief Scheme that the CFPB Previously Shut Down

CFPB Also Releases Study of Consumer Risks in Online Debt Sales, Consumer Stories of Debt Collection Experiences

Bureau Orders Medical Debt Collection Law Firms and their President to Refund $577,135 to Consumers

Report Also Looks at Consumer Complaints from Arizona

Alleges Network of Sham Collections Companies Harass, Threaten, and Deceive Millions of Consumers

Gaps in Student Loan Rehab Programs Trap Vulnerable Borrowers in Default, May Cost Consumers $125 Million in Unnecessary Interest Charges Alone

Credit Union Used False Threats to Collect Debts and Placed Unfair Restrictions on Account Access

The Consumer Financial Protection Bureau (CFPB) today finalized new measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers. The updated rule requires servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, clarifies borrower protections when the servicing of a loan is transferred, and provides important loan information to borrowers in bankruptcy. 

Today the Consumer Financial Protection Bureau (CFPB) outlined proposals under consideration that would overhaul the debt collection market by capping collector contact attempts and by helping to ensure that companies collect the correct debt. Under the proposals being considered, debt collectors would be required to have more and better information about the debt before they collect.

Report Highlights Violations in Auto Origination, Debt Collection, Mortgage Origination and Small-dollar Lending

CFPB Bars Law Firm, Debt Buyer from Churning Out Illegal Collections Lawsuits and Imposes $2.5 Million in Penalties

Student Aid Institute Illegally Tricked Borrowers Into Paying Fees for Federal Loan Benefits WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today took action to halt a student loan debt relief scam that illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department […]

Report Also Includes Look at Consumer Complaints from Florida WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released its latest monthly consumer complaint snapshot, highlighting consumer complaints related to debt collection. The report shows that the most common debt collection complaint is about attempts to collect on a debt the consumer reported was […]

CFPB Enforcement Actions Returned Over $5 Million to Servicemembers in 2015 WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) released an annual report today from the Office of Servicemember Affairs highlighting complaints submitted in 2015 and CFPB enforcement actions that directly impacted the military community. The report found that servicemembers have been submitting debt […]

Court Rules that Morgan Drexen and Walter Ledda Charged Illegal Upfront Fees and Deceived Consumers WASHINGTON, D.C. — At the request of the Consumer Financial Protection Bureau, a federal district court entered a final judgment this week against debt relief company Morgan Drexen, Inc., resolving a lawsuit filed by the CFPB in August 2013. The […]

Student Loan Processing.US and Owner Charged Student Loan Borrowers Millions in Illegal Fees WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) requested that a federal district court enter a final judgment and order that would shut down a student debt relief scheme that charged borrowers millions of dollars in illegal upfront fees for […]

Citibank Sold Credit Card Debt with Inflated Interest Rates; Debt Collectors for Citibank Altered Affidavits WASHINGTON, D.C. – The Consumer Financial Protection Bureau today took two separate actions against Citibank for illegal debt sales and debt collection practices. In the first action, the CFPB ordered Citibank to provide nearly $5 million in consumer relief and […]

Report Includes Look at Consumer Complaints from New York State and the New York City Metro Area WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released its latest monthly consumer complaint snapshot, highlighting consumer complaints about financial services such as debt settlement, check cashing, money orders, and credit repair. The report shows that […]

Order Would Bar Georgia Law Firm from Churning Out Illegal Collections Lawsuits and Require $3.1 Million Penalty WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed consent order in federal court that would resolve a lawsuit against Frederick J. Hanna & Associates, a Georgia-based law firm, and its three principal partners, […]

EOS to Pay More than $2.5 Million in Refunds and Penalties WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) filed a federal complaint against EOS CCA (EOS), a Massachusetts debt collection firm, for reporting and collecting on old cellphone debt that consumers disputed and EOS did not verify. The company also provided inaccurate […]

Examiners Uncover Illegal Practices in Student Loan Servicing, Mortgage Origination and Servicing, Consumer Reporting, and Debt Collection Markets WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released its latest supervision report outlining the illegal practices uncovered by the Bureau’s examiners from May 2015 to August 2015. The Bureau found violations in the student […]

Westlake Services and Wilshire Consumer Credit Pressured Borrowers with Illegal Threats and Phony Caller IDs

Encore and Portfolio Recovery Associates Must Refund Millions of Dollars and Overhaul Debt Collection and Litigation Practices WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) took action against the nation’s two largest debt buyers and collectors for using deceptive tactics to collect bad debts. The Bureau found that Encore Capital Group and Portfolio […]

Report Includes In-Depth Look at Debt Collection Complaints and Complaints from Milwaukee, Wis. WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) launched the first in a new series of monthly reports to highlight key trends from consumer complaints submitted to the Bureau. The monthly report includes complaint data on company performance, complaint volume, […]