News & Analysis as of

Military Service Members Consumer Financial Protection Bureau (CFPB) Department of Justice (DOJ)

Hudson Cook, LLP

CFPB Bites of the Month - April 2024 - Won't Get Fooled Again, CFPB

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In this month's article, we share some of our top "bites" covered during the April 2024 webinar....more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Nondiscrimination and Military Protection Law

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to consumers protected by nondiscrimination and military protection laws....more

Ballard Spahr LLP

FTC issues annual ECOA report to CFPB (UPDATED)

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The FTC recently sent its annual letter to the CFPB reporting on the FTC’s activities related to the Equal Credit Opportunity Act (ECOA) and Regulation B.  The new letter reports on the FTC’s activities in 2022.  The Bureau...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Nondiscrimination and Military Protection Laws

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2022 applicable to consumers protected by nondiscrimination and military protection laws. The CFPB has historically been particularly active with respect to...more

Troutman Pepper

CFPB and DOJ Remind Auto Finance Companies of SCRA Protections for Servicemembers

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On July 29, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) issued a joint letter to auto finance companies, reminding them of the protections the Servicemembers Civil Relief Act (SCRA) affords...more

Nelson Mullins Riley & Scarborough LLP

DOJ, CFPB Warn Auto Finance Companies about Servicemember Protections

The U.S. Department of Justice (“DOJ”) and the Consumer Finance Protection Bureau (“CFPB”) issued a joint letter reminding the auto finance industry to enforce certain interest rate restrictions and other consumer protection...more

Cadwalader, Wickersham & Taft LLP

CFPB and DOJ Send Clear Message Regarding Servicemembers to the Auto Industry 

Following the Consumer Financial Protection Bureau’s supervisory observations that the auto finance industry seemed to be struggling with providing adequate consumer protections to servicemembers, the CFPB has joined with the...more

Ballard Spahr LLP

DOJ and CFPB send notification letter to auto finance companies regarding SCRA protections

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On July 29, 2022, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a notification letter (the “joint letter”) to “remind” auto lenders and leasing companies of the protections...more

Troutman Pepper

Recent Federal- and State-Level Servicemembers Civil Relief Act Enforcement Re-Emphasize the Act's Importance

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Federal law and analogous state laws provide a broad array of generous, and often misunderstood, consumer and other protections to military servicemembers enforceable by federal and/or state authorities. Two recent...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 1

Student Loan Forgiveness Updates: New Changes Coming in 2022 for Public Service Borrowers - "Borrowers on track for Public Service Loan Forgiveness, a federal student loan forgiveness program for people devoted to careers...more

Troutman Pepper

CFPB and DOJ Reinforce Federal Housing Protections for the Military Community

Troutman Pepper on

The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) issued joint letters, restating the federal housing protections afforded to military servicemembers during the COVID-19 pandemic. While some...more

Hudson Cook, LLP

Towing Companies Sued for Alleged SCRA Violations

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In mid-August, the Department of Justice sued Target Recovery Towing Inc. and Target Recovery & Transport Inc. in Florida federal court for violating the federal Servicemembers Civil Relief Act when, without a court order,...more

Ballard Spahr LLP

DOJ brings suit against indirect auto lender alleging its repossession practices violated the SCRA

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On March 28, the Department of Justice (DOJ) brought another lawsuit against an auto finance company alleging the company violated the Servicemembers Civil Relief Act (SCRA) by repossessing vehicles owned by servicemembers...more

Ballard Spahr LLP

DOJ announces settlement of SCRA claims for auctioning of towed vehicles without court orders

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The Department of Justice recently announced it had entered into an agreement with the City and County of Honolulu, Hawaii (Honolulu) and its general contractor for towing services to settle a lawsuit filed by the DOJ...more

Ballard Spahr LLP

Auto-finance companies agree to pay nearly $800,000 to settle Justice Department allegations regarding SCRA auto repossession...

Ballard Spahr LLP on

The United States Department of Justice announced last week that Westlake Services LLC and its subsidiary, Wilshire Consumer Capital LLC, have agreed to pay $760,788 to resolve allegations the companies violated the...more

Bradley Arant Boult Cummings LLP

SCRA Will Continue to Receive Regulatory Scrutiny

On March 22, 2016, the U.S. House of Representatives passed the Foreclosure Relief and Extension for Servicemembers Act of 2015. This bill was signed into law by President Obama on March 31, 2016. This follows the...more

Ballard Spahr LLP

Has the SCRA been amended for everyone?

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Not only student loan servicers, but all companies, particularly those subject to the CFPB’s supervisory authority, face new compliance risk under the Servicemembers Civil Relief Act (the “SCRA”) as a result of the stunning...more

Ballard Spahr LLP

Did the CFPB, DOJ, and ED Just Amend the Servicemembers Civil Relief Act?

Ballard Spahr LLP on

Yesterday, as a result of a referral from the Consumer Financial Protection Bureau, the Department of Justice and the Department of Education announced a $60 million settlement against a major student loan servicer for...more

Ballard Spahr LLP

Federal agencies launch new servicemember higher education complaint process

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Servicemembers now have more channels for submitting complaints relating to their higher education. In addition to their ability to submit complaints about student loans via the CFPB’s complaint system, servicemembers using...more

K&L Gates LLP

CFPB Fair Lending Updates – Expectations for Enforcement and Regulation in 2013

K&L Gates LLP on

Signaling that 2013 will be another eventful year in the fair lending world, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued two items this month that reveal an ambitious agenda for fair lending...more

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