Today, the Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against debt-relief payment-processors RAM Payment and Account Management Systems (AMS), as well as AMS’s co-founders, Gregory Winters and Stephen Chaya, for collecting debt-relief fees from consumers, lying to consumers about when the fees would be paid to debt-relief companies, and sending illegal advance fees to debt-relief companies before they were legally allowed to do so.
Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well as to pay a penalty, to resolve a September 2021 lawsuit alleging that it continued to engage in illegal and deceptive marketing in violation of a 2016 CFPB order. The lawsuit also accuses LendUp of violating fair lending regulations.
Director Rohit Chopra remarks at the December NAAG Meeting.
CFPB Takes Action Against Fintech Company GreenSky for Enabling Merchants to Secure Loans for Consumers Without Their Authorization
The Consumer Financial Protection Bureau (CFPB) took action against GreenSky, LLC for enabling contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them. The CFPB issued a consent order against GreenSky requiring the company to refund or cancel up to $9 million in loans for customers harmed by its illegal conduct, pay a $2.5 million civil penalty, and implement new procedures to prevent future fraudulent loans.
The Consumer Financial Protection Bureau (CFPB) today filed a proposed settlement against Driver Loan, LLC, and its CEO, Angelo Jose Sarjeant. If entered by the court, the settlement would require the defendants to refund about $1 million in deposits to harmed consumers, stop deceptive practices, and pay a civil penalty.
The Consumer Financial Protection Bureau (CFPB) issued a consent order today against 3rd Generation, Inc., doing business as California Auto Finance (California Auto) for illegally charging interest for late payment on its Loss Damage Waiver (LDW) product without its customers’ knowledge.
The Consumer Financial Protection Bureau (CFPB) requested today that a federal district court enter a final judgment and order that, if entered by the court, would require DMB Financial, LLC to pay consumers at least $5.4 million for charging unlawful fees and failing to provide required disclosures to its customers, and a civil penalty. The CFPB alleges that DMB’s actions violated the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA).
The Consumer Financial Protection Bureau (CFPB) today took action against Nationwide Equities Corporation for sending deceptive loan advertisements to hundreds of thousands of older borrowers.
The Consumer Financial Protection Bureau (CFPB) took action today against an online debt-settlement company for taking advantage of consumers, failing to disclose its relationship to certain creditors, and steering consumers into high-cost loans offered by affiliated lenders.
El CFPB Anuncia Que Está Intentando Contactar a Aquellos Consumidores Que Sean Elegibles Para Recibir Compensación Económica por El Caso Siringoringo
La Oficina para la Protección Financiera del Consumidor ha publicado el día de hoy una serie de anuncios de servicio público con el fin de contactar a aquellos consumidores que hayan sido perjudicados por la oficina de abogados Siringoringo, Stephen Lyster Siringoringo, Clausen & Cobb Management Company, Inc. y Joshua Cobb.
CFPB Launches Public Service Announcements to Reach Consumers Eligible for Compensation in Siringoringo Case
The Consumer Financial Protection Bureau released a series of public service announcements targeting consumers who were harmed by Siringoringo Law Firm, Stephen Lyster Siringoringo, Clausen & Cobb Management Company, Inc., and Joshua Cobb.
The Consumer Financial Protection Bureau (Bureau) today announced a settlement with Freedom Mortgage Corporation (Freedom), one of the ten largest Home Mortgage Disclosure Act (HMDA) reporters nationwide.
The Consumer Financial Protection Bureau (Bureau) today announced a settlement with Enova International, Inc., an online consumer lender based in Chicago, Illinois.
Bureau of Consumer Financial Protection Files Complaint and Proposed Settlement with Village Capital & Investment LLC
Company Deceived Veterans Regarding Benefits of Mortgage Refinancing Offers
Company Did Not Properly Disclose Terms and Conditions of Its Auto Loan Add-On Product and Auto Loan Extensions
Cash Express Made Misleading Representations to Consumers and Improperly Seized Money From Check-Cashing Transactions
Bureau Orders Financial Services Company to Pay $255,000 to Consumers
Credit Union Used False Threats to Collect Debts and Placed Unfair Restrictions on Account Access
Online Lender Did Not Help Consumers Build Credit or Access Cheaper Loans, As It Claimed
Lender Also Illegally Exposed Borrowers’ Debt Information to Employers, Friends, and Family
Consumer Financial Protection Bureau Takes Action Against Bridgepoint Education, Inc. for Illegal Student Lending Practices
CFPB Orders Full Relief and Refunds for All Private Loans Made by the School
Consumer Financial Protection Bureau Orders Santander Bank to Pay $10 Million Fine for Illegal Overdraft Practices
Bank Deceptively Marketed Its Overdraft Service to Consumers, Violated “Opt-in” Rule
Written Testimony of David Silberman Before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit
Chairman Neugebauer, Ranking Member Clay, and Members of the Subcommittee, thank you for the opportunity to testify today about the Consumer Financial Protection Bureau’s (Bureau) work to strengthen our financial system so that it better serves consumers, responsible businesses, and our economy as a whole. My name is David Silberman and I am the Associate […]
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) asked a federal district court to enter a consent order that would permanently ban a Texas-based company, Union Workers Credit Services, from offering any consumer credit products or services after it duped thousands of consumers into signing up for a sham credit card. The order […]
Firm Charged Illegal Upfront Fees to Consumers WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) announced that it has asked a federal district court to enter a consent order requiring Premier Consulting Group LLC to pay a fine of $69,075 for charging consumers illegal upfront fees for debt-settlement services they never received, and […]