On Wednesday, July 8, the CFPB announced its latest — and largest — settlement of claims of unfair and deceptive debt collection practices. The OCC and 47 State Attorneys General all were part of the overall settlement. The...more
7/14/2015
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Attorney General ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debt Collection ,
Debt Collectors ,
Enforcement ,
Injunctive Relief ,
OCC ,
Restitution ,
UDAAP ,
Unfair or Deceptive Trade Practices
Last week, the CFPB announced a settlement with payday lender ACE Cash Express of an enforcement action for alleged unfair, deceptive, and abusive practices (UDAAP). The Consent Order reflects the CFPB’s continued focus on...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