The FTC announced settlements of two lawsuits filed in a California federal district court alleging similar violations of the FTC Act, the Telemarketing Sales Rule (TSR), and the Truth in Lending Act by providers of student...more
9/17/2019
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Debt Relief ,
Debt-Relief Industry ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Services Industry ,
FTC Act ,
Regulatory Violations ,
Settlement Agreements ,
Student Loans ,
Telemarketing Sales Rule ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
The CFPB announced that it had simultaneously filed two complaints and corresponding proposed stipulated final judgments in a California federal district court in actions against four credit repair companies and three...more
The CFPB has filed a complaint in a California federal district court against three law firms and two individual attorneys alleging that they offered debt relief services to consumers in violation of the Telemarketing Sales...more
1/31/2017
/ Civil Monetary Penalty ,
Commercial Bankruptcy ,
Consumer Bankruptcy ,
Consumer Contracts ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Relief ,
Debt Settlement Services ,
Debt-Relief Industry ,
Enforcement Actions ,
Fees ,
Financial Services Industry ,
Permanent Injunctions ,
Redress Payments ,
Restitution ,
Stipulated Judgment ,
Telemarketing Sales Rule
Since it was filed in a California federal court in July 2012, we have been following CFPB v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by falsely promising loan modifications in...more
11/21/2016
/ Article III ,
Banking Sector ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Disgorgement ,
Enforcement Actions ,
Fees ,
Loan Modifications ,
Mortgage Assistance Relief Services (MARS) ,
Obama Administration ,
Petition for Writ of Certiorari ,
Recess Appointments ,
Regulation O ,
Restitution ,
Standing ,
Summary Judgment
The CFPB announced that it has filed a lawsuit in a California federal district court against a credit repair company for alleged violations of the Consumer Financial Protection Act (CFPA) and Telemarketing Sales Rule (TSR)....more
The CFPB announced that it has entered into a consent order with First National Bank of Omaha to settle charges that the bank engaged in unfair or deceptive acts or practices in connection with the marketing and sale of...more
8/29/2016
/ Add-ons ,
Banking Sector ,
Banks ,
Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Enforcement Actions ,
Fees ,
Financial Services Industry ,
First National ,
Misrepresentation ,
OCC ,
Restitution ,
UDAAP
Since it was filed in a California federal court in July 2012, we have been following CFPB v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by falsely promising loan modifications in...more
The Independent Community Bankers of America (ICBA) wants to limit the application of a new Call Report requirement for banks to include a breakdown of their income from service charges on consumer deposit accounts. ...more
The CFPB has published a final rule in today’s Federal Register amending Regulation Z (Truth in Lending) to remove fees paid before a credit card account is opened from the scope of the 25% limit on total fees that may be...more
The CFPB has issued a final rule amending Regulation E to remove the requirement that a fee notice be posted on or at an automated teller machine. On December 20, 2012 , President Obama signed into law an amendment to the...more