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Pensions Consumer Lenders

Goodwin

CFPB Announces $1 Settlement With Military Pension-Advance Broker

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On January 23, 2019, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a loan broker, resolving allegations the broker’s offering of high-interest credit to veterans on...more

Goodwin

CFPB Files Complaint Against Pension-Advance Lender

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On September 13, 2018, the Consumer Financial Protection Bureau (“CFPB”) announced that it filed a complaint against a lender, its president, and related entities (“Defendants”) for allegedly making small-dollar loans in...more

Ballard Spahr LLP

CFPB Files First Lawsuit Under Acting Director Mulvaney

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The CFPB filed its first new lawsuit under acting Director Mulvaney yesterday, alleging that a pension advance company and its president made predatory loans to consumers that were falsely marketed as asset purchases.  ...more

Goodwin

Virginia AG Files Suit Over Pension Loans

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On March 7, 2018, the Virginia Attorney General’s Office (“Virginia AG”) filed a complaint against two related loan companies and their owner (the “Defendants”) in Virginia state court. According to the complaint, the...more

Goodwin

Minnesota AG Sues Lending Firms for Scamming Seniors and Veterans

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On August 17, 2017, the Associated Press announced that Minnesota’s Attorney General is suing two lending firms (with the same Nevada address) for allegedly pressuring veterans and senior citizens into signing over large...more

McGuireWoods LLP

CFPB Targets Pension Lenders in Dodd-Frank Suit

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On August 20, 2015, the Consumer Financial Protection Bureau (CFPB) and New York Department of Financial Services (NYDFS) filed suit in the U.S. District Court for the Central District of California against two pension...more

Carlton Fields

CFPB and New York Department of Financial Services Sue Pension Loan Companies for Deceptive Marketing

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On August 20, the Consumer Financial Protection Bureau (CFPB) and New York Department of Financial Services (NYDFS) jointly filed suit against two pension loan companies and three individual managers for deceptively marketing...more

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