On March 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) broke new ground (at least for the CFPB) when it released a consent order against Dwolla, Inc. (“Dwolla”), an online payment platform, regarding data...more
The CFPB announced two new enforcement action settlements on September 28: one for alleged discriminatory auto loan pricing and the other for alleged deceptive credit card add-on product marketing practices....more
9/29/2015
/ Automotive Loans ,
Civil Monetary Penalty ,
Compliance ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Department of Justice (DOJ) ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Fair Lending ,
Marketing ,
Settlement ,
Terms and Conditions ,
Unfair or Deceptive Trade Practices
The House has approved an amendment aimed at barring the Department of Justice (DOJ) from enforcing the U.S. Department of Housing & Urban Development’s (HUD) fair lending disparate impact rule. The amendment is to H.R. 2578,...more
Last week, the Consumer Financial Protection Bureau announced a $225 million settlement of two major credit card enforcement matters with Synchrony Bank, formerly known as GE Capital Retail Bank. First, the “add-on matter”...more
RESPA Section 8 enforcement is back. It was in abeyance during the transition of RESPA enforcement from HUD to the CFPB over the last few years. In fact, the last announced HUD Section 8 settlement dates from almost three...more
Yesterday, the CFPB announced a $225 million settlement of two major credit card enforcement matters with Synchrony Bank, formerly known as GE Capital Retail Bank. First, the “Add-On Matter” targets alleged deceptive...more
6/23/2014
/ Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Justice (DOJ) ,
Discrimination ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
GE Capital Retail Bank ,
Marketing ,
Race Discrimination ,
UDAAP ,
Unfair or Deceptive Trade Practices
The Consumer Financial Protection Bureau filed an administrative enforcement action against PHH Corporation, alleging a nearly 15-year “mortgage insurance kickback scheme” by its mortgage origination and reinsurance...more