News & Analysis as of

Military Service Members Dept. of Justice

The U.S. Department of Justice is Ramping Up its Enforcement of the Servicemembers Civil Relief Act

by McGuireWoods LLP on

Think you are in compliance with the Servicemembers Civil Relief Act? Now would be a good time to make sure since the federal government is increasing its enforcement efforts as part of its Servicemembers and Veterans...more

DOJ & OCC Enter Consent Order with National Bank Over Debt Collection from Servicemembers

by Goodwin on

On September 29, the U.S. Department of Justice (DOJ) announced that it had entered into a consent order with a national bank over allegations that the bank had engaged in unlawful debt collection practices, in violation of...more

DOJ Settles SCRA Violations with Auto Financing Company for $400K

by Goodwin on

On August 8, the Department of Justice (DOJ) announced that an auto financing company agreed to pay $434,500 to settle alleged violations of the Servicemembers Civil Relief Act (SCRA). The DOJ alleged in its complaint that...more

CFPB: The Quarterly Review - April 2016

by White & Case LLP on

If the first quarter is any indication, 2016 is going to be a busy year for the CFPB and market participants alike. The CFPB Speaks - Regulation by enforcement - On March 9, during his prepared remarks to...more

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

Hacker arrests and prosecutions update

We previously reported that alleged Ukranian hacker Sergey Vovnenko, also known as “Flycracker,” “Fly” and “Darklife” was extradited from Italy, arrested and charged in New Jersey federal court for his part in disbursing the...more

Has the SCRA been amended for everyone?

by Ballard Spahr LLP on

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

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

by 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

Federal agencies launch new servicemember higher education complaint process

by Ballard Spahr LLP on

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

How To Demonstrate Ethics And Compliance – Earn It, Re-Earn It And Re-Evaluate It

by Thomas Fox on

What should your company do if it finds itself in a situation where some of its senior leadership has engaged in conduct which violates its own ethical standards or external legal standard such as the Foreign Corrupt...more

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

by 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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