When we take an enforcement action against an entity or person we believe has violated the law, we will post court documents and other related materials here.
The Bureau may enforce the law by filing an action in federal district court or by initiating an administrative adjudication proceeding. Administrative proceedings are conducted by an Administrative Law Judge, who holds hearings and issues a recommended decision. Proceedings are conducted in accordance with the Rules of Practice for Adjudication Proceedings.
On October 15, 2020, the Consumer Financial Protection Bureau (Bureau) filed a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its subsidiaries, Midland Funding, LLC; Midland Credit Management, Inc.; and Asset Acceptance Capital Corp.
On September 8, 2020, the Consumer Financial Protection Bureau (Bureau), in partnership with the New York Attorney General, filed suit in the federal district court for the Western District of New York 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.
On September 2, 2020, 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.
On September 1, 2020, the Consumer Financial Protection Bureau issued a consent order against Service 1st Mortgage, Inc. (Service 1st), a Maryland-based corporation that is licensed as a mortgage broker or lender in about 12 states.
On September 1, 2020, the Consumer Financial Protection Bureau issued a consent order against Hypotec, Inc., a Miami-based corporation that is licensed as a mortgage broker or lender in eight states.
On August 31, 2020, the Bureau issued a consent order against Sigue Corporation and its subsidiaries, SGS Corporation and GroupEx Corporation, which are all headquartered in Sylmar, California and provide consumers with international money-transfer services, including remittance-transfer services.
On August 31, 2020, the Bureau issued a Consent Order against Trans-Fast Remittance LLC (Trans-Fast). Trans-Fast, which until recently was a remittance transfer provider, is based in New York, New York and licensed in over 30 states.
On August 26, 2020, the Consumer Financial Protection Bureau (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.
On August 21, 2020, the Consumer Financial Protection Bureau (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.
On August 20, 2020, the Bureau issued a consent order against TD Bank, N.A. regarding its marketing and sale of its optional overdraft service: Debit Card Advance (DCA).
On July 24, 2020, the Consumer Financial Protection Bureau issued a consent order against Prime Choice Funding, Inc. (Prime Choice), a California corporation that is licensed as a mortgage broker or lender in about 35 states and the District of Columbia. The Bureau found that Prime Choice violated the CFPA’s prohibition against deceptive acts and practices, the MAP Rule, and Regulation Z.
On July 24, 2020, the Consumer Financial Protection Bureau issued a consent order against Sovereign Lending Group, Inc. (Sovereign), a California corporation that is licensed as a mortgage broker or lender in about 44 states and the District of Columbia. The Bureau found that Sovereign violated the CFPA’s prohibition against deceptive acts and practices, the MAP Rule, and Regulation Z.
On July 15, 2020, the Bureau filed a lawsuit against Townstone Financial, Inc., a nonbank retail-mortgage creditor and broker based in Chicago. Illinois. The Bureau alleged that Townstone violated the Equal Credit Opportunity Act (ECOA); its implementing regulation, Regulation B; and the Consumer Financial Protection Act (CFPA).
On July 13, 2020, the Bureau filed a complaint in the federal district court for the Central District of California against GST Factoring, Inc., which runs a student-loan debt-relief business in Texas, and two of its owners, Rick Graff and Gregory Trimarche, as well as Champion Marketing Solutions, LLC, a customer service and marketing company, and its owner, Scott Freda. The Bureau also filed suit against four attorneys, California attorneys Amanda Johanson and Jacob Slaughter, Arizona attorney David Mize, and Florida attorney Daniel Ruggiero.
On July 7, 2020, the Consumer Financial Protection Bureau settled with Timemark, Inc., a company based in Deerfield Beach, Florida, that provides debt-relief services to consumers with federal student-loan debt, and with its owners and officers, Timothy Lenihan, Sr., Mark Nagler, and Casey Gassaway.
On July 6, 2020, the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against My Loan Doctor LLC, a Delaware company operating in West Palm Beach, Florida and New York City and doing business as Loan Doctor (Loan Doctor), and its founder, Edgar Radjabli.
On June 23, 2020, the Consumer Financial Protection Bureau settled with Harbour Portfolio Advisors, LLC (Harbour); National Asset Advisors, LLC (NAA); and National Asset Mortgage, LLC (NAM), companies that worked together to issue contracts for deeds to consumers.
On May 22, 2020, the Bureau and Commonwealth of Massachusetts Attorney General Maura Healey jointly filed a lawsuit against Commonwealth Equity Group, LLC, which does business as Key Credit Repair, and Nikitas Tsoukales (also known as Nikitas Tsoukalis), Key Credit Repair’s president and owner.
On May 11 2020, the Consumer Financial Protection Bureau (Bureau) issued a consent order against Specialized Loan Servicing, LLC (SLS), a mortgage-loan servicer in Colorado.
On April 1, 2020, the Consumer Financial Protection Bureau issued a consent order against Cottonwood Financial, Ltd., which does business under the name Cash Store.
On March 9, 2020, the Bureau filed a lawsuit in federal district court in the Northern District of Illinois against Fifth Third Bank, National Association.
On February 20, 2020, the Bureau, the South Carolina Department of Consumer Affairs, and the State of Arkansas Attorney General Leslie Rutledge filed a...
On January 30, 2020, the Bureau filed a lawsuit against Citizens Bank, N.A. (Citizens), alleging violations of the Truth and Lending Act (TILA) and its implementing Regulation Z, including TILA provisions passed under the Fair Credit Billing Act (FCBA) and Credit Card Accountability Responsibility and Disclosure Act (CARD Act), as well as violations of the Consumer Financial Protection Act of 2010 (CFPA) due to its violations of TILA and Regulation Z.
On January 9, 2020, the Bureau filed a lawsuit in the U.S. District Court for the Central District of California against Chou Team Realty, LLC, d/b/a Monster Loans, Lend Tech Loans, associated student loan debt-relief companies and individuals.
