On February 22, 2021, the Consumer Financial Protection Bureau - in partnership with Virginia, Massachusetts, and New York - sued Libre by Nexus, Inc., and its owners for a predatory immigrant-services scam that traps victims into paying expensive, long-term fees.
On January 19, 2021, the Consumer Financial Protection Bureau filed a proposed settlement to resolve its December 4, 2020 lawsuit against LendUp Loans, LLC alleging violations of the Military Lending Act.
On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending practices.
On December 30, 2020, the Consumer Financial Protection Bureau issued a consent order against Omni Financial of Nevada, Inc.
On December 22, 2020, the Consumer Financial Protection Bureau issued a consent order against Santander Consumer USA Inc. to address the Bureau’s finding that it violated the Fair Credit Reporting Act.
On December 22, 2020, the Consumer Financial Protection Bureau issued a consent order against Discover Bank, The Student Loan Corporation, and Discover Products, Inc. based on violations of a prior Bureau order, the Electronic Fund Transfer Act, and the Consumer Financial Protection Act of 2010.
On December 21, 2020, the Consumer Financial Protection Bureau announced a settlement with Envios de Valores La Nacional based on the finding that La Nacional violated the Electronic Fund Transfer Act and the Remittance Transfer Rule.
On December 18, 2020, the Consumer Financial Protection Bureau issued a consent order against Seterus, Inc. and Kyanite Services, Inc., as Seterus’s successor in interest, based on the Bureau’s finding that Seterus violated the Consumer Financial Protection Act of 2010 and Regulation X.
On December 8, 2020, the Consumer Financial Protection Bureau issued a consent order against RAB Performance Recoveries, LLC for threatening to sue and suing consumers to collect debts where it did not have a legally required license to do so.
On December 7, 2020, the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar).
On December 4, 2020, the Consumer Financial Protection Bureau filed a lawsuit against LendUp Loans, LLC alleging that LendUp violated the Military Lending Act (MLA) in connection with its extensions of credit.
On December 1, 2020, the Consumer Financial Protection Bureau filed a lawsuit against DMB Financial, LLC alleging violations of the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010 in connection with its debt-settlement and debt-relief services.
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 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.
The Consumer Financial Protection Bureau granted a no-action letter to Bank of America, N.A. regarding certain small-dollar credit products.
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.
