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Category: Press release |
Published

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.

Category: Press release |
Published

CFPB Takes Action Against Company and its CEO for Deceptive Deposit and Loan Products

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.

Category: Press release |
Published

CFPB Takes Action Against Auto Lender for Unfair Loss Damage Waiver Practices

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.

Category: Press release |
Published

CFPB Takes Action Against Debt-Settlement Company for Charging Consumers Unlawful Fees

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).

Category: Press release |
Published

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.

Category: Testimony |
Published

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 […]

Category: Press release |
Published

CFPB Takes Action to Shut Down Sham Credit Card

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 […]

Category: Press release |
Published

CFPB Takes Action Against Debt-Settlement Firm

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 […]

Category: Press release |
Published

CFPB Takes Action Against Mortgage Kickback Agreements

Bureau Orders Michigan Title Insurance Agency to Pay $200,000 WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) ordered Lighthouse Title, a Michigan title insurance agency, to pay $200,000 for illegal quid pro quo referral agreements. “Today’s action sends a clear and simple message, that quid pro quo agreements for real estate referrals are […]

Category: Press release |
Published

CFPB Orders U.S. Bank to Pay $48 Million Refund to Consumers Illegally Billed for Services Not Received

Approximately 420,000 Consumers Unfairly Charged for Identity Protection “Add-On” Products to Receive Full Refunds WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) is ordering U.S. Bank to provide an estimated $48 million in relief to consumers harmed by illegal billing practices. U.S. Bank consumers were unfairly charged for certain identity protection and credit […]

Category: Press release |
Published

CFPB Takes Action Against Global Client Solutions for Processing Illegal Debt-Settlement Fees

Payment Processor to Pay Over $6 Million in Relief to Consumers WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) announced an enforcement action against Global Client Solutions, a leading debt-settlement payment processor, for allegedly helping other companies to collect tens of millions of dollars in illegal upfront fees from consumers. The Bureau has […]