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CFPB Enforcement Action Targets Debt-Settlement Payment Processor For Aiding Collection Of Upfront Fees

On August 25, the CFPB announced a consent order with an Oklahoma-based debt-settlement payment processor for allegedly helping other companies collect unlawful upfront fees from consumers. The CFPB specifically alleged that...more

Target of CFPB Complaint Loses Argument on Unconstitutionality

The United States District Court for the Central District of California denied a motion to dismiss brought by a target of the CFPB’s enforcement powers. In August 2013, the CFPB filed a complaint against a debt relief-service...more

CFPB Takes Enforcement Action Against Payment Processor for Violations of Telemarketing Sales Rule

The CFPB filed a complaint and proposed order with the United States District Court for the Western District of Washington against a payment processor for the debt settlement industry alleged to have violated the...more

CFPB Announces Suit Against Debt Settlement Firm

On August 20, the CFPB announced an enforcement action against a debt settlement company for violations of the Telemarketing Sales Rule and the Dodd-Frank Act. The complaint alleges that the company disguised illegal upfront...more

CFPB Files Enforcement Action Against Debt Services Company

The CFPB recently filed an enforcement complaint and stipulated judgment against a Florida-based debt services company, which represents the first of its kind alleging that the company is liable under Dodd Frank and the...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 24, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - PAYMENTS - Excerpt from Consumer...more

Financial Services Report - Spring 2013

Editor’s Note - This is a dignified law firm newsletter, not like the “Brand X” versions. You won’t find pandering, attention-grabbing stories about Justin Bieber, Kim Kardashian, Ashton Kutcher, Prince William, or...more

A CFPB Christmas carol: first coordinated action with states

In the first action of its kind since the agency’s creation, the CFPB, Attorneys General from New Mexico, North Carolina, North Dakota, and Wisconsin, and the Hawaii Office of Consumer Protection joined forces to enjoin a...more

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