Launching a Product Too Soon? Lessons From Recent CFPB Orders — The Consumer Finance Podcast
Navigating CFPB Enforcement: Key Takeaways From the Global Tel Link Consent Order — Payments Pros – The Payments Law Podcast
Will Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent Orders — The Crypto Exchange Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
Brinks Global Services USA (“BGS USA”), a global leader in secure logistics, found itself at the center of a significant regulatory investigation due to its failure to meet anti-money laundering (“AML”) obligations....more
On January 30, the CFPB issued a consent order against a fintech company that allows customers to send, receive and store remittances through a mobile app’s prepaid accounts and debit cards. The CFPB alleged the fintech...more
On February 4, the California DFPI announced a consent order issued against a credit union (respondent) following a significant cybersecurity breach. This breach, a ransomware attack, allegedly led to the shutdown of various...more
On January 30, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an international remittance company regarding the company’s use of deceptive advertising for fee...more
On January 17, Washington Attorney General Nick Brown announced that his office had reached a resolution in its nearly two-year lawsuit against Puppyland, a local pet store that sells and provides financing for (you guessed...more
On January 30, 2025, the CFPB entered into a consent order with the Company, alleging violations of the Consumer Financial Protection Act ("CFPA") and Electronic Fund Transfer Act ("EFTA")....more
On January 23, 2025, the New York Department of Financial Services (DFS) announced that it reached a $2,000,000 settlement as part of a broader consent order with a peer-to-peer payment platform (“P2P”) about its...more
The United States Department of Justice (“DOJ”) on behalf of the federal Environmental Protection Agency (“EPA”) entered into a January 16th Consent Decree (“CD”) with the operators of the Oasis Mobile Home Park (“Park”) for...more
On January 19, DOJ and a community bank entered into a consent order to resolve allegations of discriminatory lending practices under the ECOA. DOJ asserted the bank’s student loan refinance program engaged in practices that...more
On January 17, the CFPB issued a consent order settling allegations that a consumer reporting agency (CRA) violated the FCRA and engaged in unfair acts and practices, violating the CFPA. The CFPB imposed a $15 million civil...more
We previously reported on the Federal Trade Commission’s (FTC) lawsuit against U.S. Anesthesia Partners (USAP) and the private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson). In the lawsuit, the FTC alleges that...more
On January 17, 2025, the CFPB issued a consent order against a large consumer reporting agency for failing to properly investigate consumer disputes concerning inaccurate information on consumers’ credit reports. The CFPB...more
In this episode of The Consumer Finance Podcast, host Chris Willis and guest Joe Reilly delve into recent CFPB consent orders that penalize financial services companies for allegedly launching products before they were fully...more
On January 9, 2025, 51 State Financial Regulatory Agencies (the “Agencies”) announced a coordinated consent order and settlement agreement with nonbank mortgage servicing companies (the “Companies”). ...more
The Alabama Department of Environmental Management (“ADEM”) and City of Selma entered into a December 11th Special Order by Consent (“Order”) addressing alleged violations of a Solid Waste Disposal Permit. See Order No....more
On December 31, 2024, the Massachusetts Commissioner of Banks entered into a consent order with a third party loan servicer (the “Company”), for allegedly engaging in the business of loan servicing in Massachusetts...more
On December 23, 2024, The California Department of Financial Protection and Innovation (DFPI) announced a consent order with a crypto lending platform (the Company) that provides financial services to retail and...more
The Alabama Department of Environmental Management (“ADEM”) and Scotch and Gulf Lumber, LLC (“Scotch”) entered into a December 11th Consent Order (“CO”) addressing an alleged violation of a Clean Air Act Title V Major Source...more
On December 9, the CFPB issued a consent order against a debt collector following allegations of unfair and abusive practices regarding its collection of student loan debt allegedly violating the CFPA and the FDCPA. The CFPB...more
The SEC did not take its foot off the pedal in fiscal year (FY) 2024 when it came to prosecuting insider trading. In the third installment of Season's Readings, we consider several recent actions in which the agency secured...more
On December 9, 2024, the CFPB entered into a consent order with the Company, alleging violations of the Consumer Financial Protection Act ("CFPA") and Fair Debt Collection Practices Act ("FDCPA") with respect to its...more
On October 10, 2024, the financial services community was stunned by the $3.1 billion settlement between the federal government and TD Bank over Bank Secrecy Act (BSA) and anti-money laundering (AML) violations. TD Bank’s...more
The Alabama Department of Environmental Management (“ADEM”) and West Fraser US EWP LLC (“West Fraser”) entered into a November 6th Consent Order (“CO”) addressing alleged violations of an air permit. See Consent Order No....more
On November 26, 2024, the National Labor Relations Board’s (“NLRB” or the “Board”) General Counsel, Jennifer Abruzzo, released GC Memorandum 25-02 to all Regional Directors, Officers-in-Charge, and Resident Officers, seeking...more
The Alabama Department of Environmental Management (“ADEM”) and Omega Waste Management, Inc. (“Omega”) entered into a November 27th Consent Order (“CO”) addressing alleged violations of the Alabama Used Oil Regulations. See...more