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False Advertising Mortgages Advertising

Goodwin

CFPB Secures $7.9 Million Trial Verdict Against Mortgage Loan Servicer

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On September 8, a federal judge in California ordered a national mortgage services company to pay a $7.9 million civil penalty based on false or misleading marketing statements it allegedly made to consumers about its...more

McGuireWoods LLP

Consumer Financial Protection Bureau Takes Action Against Payment Processing Company and Mortgage Servicer

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The Consumer Financial Protection Bureau (CFBP) recently took action against a payment processing company, Paymap Inc. (Paymap), and mortgage servicing company, LoanCare, LLC (LoanCare), for deceptive conduct in connection...more

Ballard Spahr LLP

CFPB Targets Another Mortgage Lender for Deceptive Advertising

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The CFPB has announced the settlement of an enforcement action against a California-based mortgage lender for alleged deceptive advertising practices, including the use of advertisements that the CFPB claimed falsely led...more

McGuireWoods LLP

CFPB Issues $2 Million Fine Against Mortgage Lender

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Last week, the Consumer Financial Protection Bureau (CFPB) announced that mortgage lender NewDay Financial LLC, which specializes in Veterans Administration-backed loans available to military personnel and veterans, had...more

Baker Donelson

CFPB Takes Action for Deceptive Advertisement of "Free Checking"

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Although the CFPB has focused its rulemaking and enforcement actions on mortgage servicing and lending, it recently entered into a consent order with M&T Bank regarding the deceptive advertising of free checking. The...more

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