News & Analysis as of

Settlement UDAAP

Sheppard Mullin Richter & Hampton LLP

Maryland Banking Regulator Settles with Bank/Fintech Partnership For Unlicensed Lending, Credit Repair, and Debt Collection...

On May 16, the Maryland Office of Financial Regulation (“OFR”) announced a settlement with a Missouri-based bank and its fintech partners for engaging in unlicensed lending, credit repair, and debt collection activities....more

Bradley Arant Boult Cummings LLP

FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”

The FTC issued a release on October 18, 2022, to announce that it has initiated an enforcement action in Maryland against a Washington, D.C.-area auto dealer group, Passport Automotive Group, as well as two of its executives,...more

Troutman Pepper

Navient Settles with State AG Coalition Over Alleged Unfair, Deceptive, and Abusive Student Loan Origination and Servicing...

Troutman Pepper on

On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair,...more

Ballard Spahr LLP

CFPB files amicus brief in Maryland Court of Appeals seeking rejection of class action settlement

Ballard Spahr LLP on

The CFPB has filed an amicus brief in the Maryland Court of Appeals urging the court to affirm the decision of the Court of Special Appeals reversing the trial court’s approval of a settlement agreement in a class action...more

Ballard Spahr LLP

The principal issue in RD Legal Funding also merits attention

Ballard Spahr LLP on

We have blogged twice about the conclusion in RD Legal Funding that Title X of Dodd-Frank is unconstitutional because it provides that the sole director of the CFPB can be removed only for cause.  ...more

Goodwin

CFPB and OCC Settle with National Bank for $1 Billion Over Auto and Mortgage Lending Practices

Goodwin on

On April 20, 2018, the Consumer Financial Protection Bureau (CFPB)? and Office of the Comptroller of the Currency (OCC) each announced settlements totaling $1 billion with a national bank resulting from a coordinated action...more

Foley & Lardner LLP

CFPB Overreaches in Handling Alleged RESPA ABA Exemption Issues in Meridian

Foley & Lardner LLP on

On September 27, 2017, the Consumer Financial Protection Bureau (CFPB) announced the settlement of its Real Estate Settlement Procedures Act (RESPA) enforcement action against Meridian Title Corp. (Meridian), an Indiana-based...more

Ballard Spahr LLP

FDIC announces settlement with bank and non-bank affiliated parties

Ballard Spahr LLP on

The FDIC announced last week that it had entered into settlements with Bank of Lake Mills and two non-bank “institution-affiliated parties” through which the bank originated loans for allegedly engaging in unfair and...more

Ballard Spahr LLP

CFPB files lawsuit against structured settlement purchaser

Ballard Spahr LLP on

The CFPB has filed a lawsuit in a Maryland federal district court against: (1) Access Funding, LLC (Access), a limited liability company that purchases structured settlements from consumers; (2) Access’ managing member...more

MoFo Reenforcement

CFPB and California Announce Enforcement Actions Against Online Lender

MoFo Reenforcement on

On Tuesday, September 27, 2016, the CFPB and the California Department of Business Oversight (“DBO”) announced separate enforcement actions against Flurish, Inc., an online lender that does business as “LendUp” in California...more

Davis Wright Tremaine LLP

Additional Recent Actions Added To UDAAP Database

The CFPB has issued new enforcement actions that include allegations of unfair, deceptive, or abusive acts and practices (UDAAP) in connection with consumer financial products. We’ve updated our UDAAP Database with the most...more

Morrison & Foerster LLP

Takeaways From GE Capital's $225M Credit Card Settlement

Last week, the Consumer Financial Protection Bureau announced a $225 million settlement of two major credit card enforcement matters with Synchrony Bank, formerly known as GE Capital Retail Bank. First, the “add-on matter”...more

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