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Scams Consumer Financial Protection Bureau

CFPB November 2016 complaint report highlights other financial services complaints, complaints from Oklahoma consumers

by Ballard Spahr LLP on

The CFPB has issued its November 2016 complaint report which highlights complaints about “other financial services,” a category that includes debt settlement, credit repair, check cashing, and money orders.  The report also...more

Financial Services Weekly News - September 2016 #3

by Goodwin on

Editor's Note - Investment Company Institute Publishes FAQ on SEC No-Action Letter Regarding Auditor Independence. On September 23, the Investment Company Institute (ICI) published a memorandum (ICI Memo) responding to...more

CFPB Gives Debt Relief Company Targeting Students a Failing Grade

Continuing its focus on the student loan industry, the Consumer Financial Protection Bureau (CFPB) ordered a debt relief company to shut down operations and pay a penalty for allegedly scamming borrowers and misrepresenting...more

CFPB Takes Action Against Student Debt Relief Company

On March 15, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it requested a federal court to enter a final order shutting down student debt relief company Student Loan Processing.US. In December...more

Alert: Beware of Predatory Student Debt Relief Advertisements that Target Your School

by Cooley LLP on

In a recent trend, student debt relief scammers are engaging in aggressive marketing tactics by placing advertisements that target student loan borrowers from a specific institution of higher education. These advertisements...more

CFPB alerts Google to student debt relief scammers

by Ballard Spahr LLP on

Rohit Chopra, the CFPB’s outgoing Student Loan Ombudsman, has sent a letter to Google to alert the company that “student loan debt relief scammers may be targeting student loan borrowers through the company’s search...more

New CFPB lawsuit targets payment processors for debt collectors

by Ballard Spahr LLP on

A new CFPB enforcement action filed in federal district court in Atlanta and unsealed last week targeting an alleged debt collection scam names as defendants not only the debt collectors and their individual principals but...more

CFPB settles with military base retailer for alleged fee scam; Senators seek CFPB investigation of retailer’s debt collection...

by Ballard Spahr LLP on

The CFPB has announced a settlement with USA Discounters, a retailer that operates a chain of stores near military bases and offers financing for purchases through retail installment sales contracts (RICs), to resolve charges...more

CFPB highlights collaboration with tribal governments

by Ballard Spahr LLP on

A recent CFPB blog post warning Native Americans receiving payments from the settlement in Cobell v. Salazar that they could be targeted by scammers also highlights the CFPB’s collaboration with tribal governments....more

CFPB goes after another mortgage modification business

by Ballard Spahr LLP on

The CFPB announced that on December 3, 2012, it filed a second action in the U.S. District Court for the Central District of California seeking to shut down an alleged mortgage modification scam....more

CFPB Halts Alleged Nationwide Mortgage Loan Modification Scams

The CFPB has announced actions to halt two alleged mortgage loan modification scams it believes ripped-off thousands of struggling homeowners across the country. According to the CFPB, these operations took in more than $10...more

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Cybersecurity

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