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Consumer Financial Contracts Consumer Financial Protection Bureau (CFPB) Enforcement Actions

Goodwin

CFPB Report Spotlights Consumer Risks with Private, Solar-Specific Loans

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​​​​​​​On August 7, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report spotlighting four marketing and financing practices relating to solar financing that it claims pose significant consumer risks (the...more

Hudson Cook, LLP

CFPB Takes Dual Action Against Bank Holding Company for Alleged Unlawful Repossessions and Sales Practices.

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On July 9, 2024, the CFPB issued a consent order and proposed court order against the Company, the former citing allegedly unlawful repossessions, and the latter citing allegedly unlawful sales practices. The consent order...more

Holland & Knight LLP

Will Mariner Finance Decision Lead State Regulators to Bring CFPA Claims?

Holland & Knight LLP on

A lengthy decision recently issued by the U.S. District Court for the Eastern District of Pennsylvania, Pennsylvania by Shapiro v. Mariner Fin., LLC, No. CV 22-3253, 2024 WL 169654 (E.D. Pa. Jan. 12, 2024) (Hodge, J.), may...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Biggest Fines and Penalties

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In this article, we share a list of the top 10 biggest fines and penalties from our monthly bites for 2023....more

Cadwalader, Wickersham & Taft LLP

Multistate and CFPB Enforcement Actions Against Lease Finance Company Tempoe

The Consumer Financial Protection Bureau (“CFPB”) announced on Monday that it and 41 states and the District of Columbia had resolved a multistate investigation in the leasing activities engaged in by specialty consumer...more

Hudson Cook, LLP

[Webinar] CFPB Bites of the Month: Beware the Ides of March and the CFPB - March 15th, 2:00 pm - 2:30 pm ET

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We thank you for joining us over the past three years and are pleased to resume our CFPB Bites of the Month series in 2023! Consumer financial services concerns continue to be front and center in the daily news cycles....more

Troutman Pepper

Nissan Becomes Most Recent Target of CFPB Ire: Auto Finance Company Enters into $4 Million Consent Order for Alleged Unlawful...

Troutman Pepper on

On October 13, 2020, the Consumer Financial Protection Bureau (the “CFPB”) announced that it entered into a consent order (the “Order”) with Nissan Motor Acceptance Corporation (“Nissan”) to resolve allegations that the auto...more

ArentFox Schiff

Study Shows Marked Increase in FCRA Cases, Downward Trend in Consumer Protection Litigation Overall

ArentFox Schiff on

The report uncovered a 100% increase in the number of lawsuits brought under the Fair Credit Reporting Act over the past ten years and revealed decreases in Truth-In-Lending Act cases. The report’s data, which represents...more

Goodwin

BCFP Files Proposed Stipulated Final Judgment with Nevada Mortgage Company Over Misrepresentations

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On December 6, 2018, the Bureau of Consumer Financial Protection (“CFPB”) announced that two days earlier it had filed a complain?t and stipulated final judgment and order against a Nevada-based non-bank mortgage company in...more

Goodwin

CFPB Enters Consent Order with Lead Aggregator For Steering Consumers to Illegal Loans

Goodwin on

On September 6, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a lead aggregator over claims the aggregator steered consumers towards lenders who offered...more

Goodwin

CFPB Enforcement Continues to Rise in Q1 2017 as Other Federal and State Enforcement Trend Downwards

Goodwin on

In the first quarter of 2017, Consumer Enforcement Watch tracked 46 enforcement actions taken against consumer financial service providers. This represents a slight decrease from the 50 enforcement actions taken against...more

Dorsey & Whitney LLP

The CFPB’s Action Against the Country’s Largest Student Loan Servicer, Navient: Four Things You Need to Know Right Now

Dorsey & Whitney LLP on

In recent posts, this blog discussed how the Consumer Financial Protection Bureau (CFPB) has tightened control over financial institutions, including an overhaul of the regulatory landscape for debt collection and banks. The...more

Goodwin

CFPB Enters Consent Order with Lender Over Defective Disclosures

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On December 20, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a mid-Atlantic financing company over allegations that the company entered into revolving-credit...more

Dorsey & Whitney LLP

“Nonbank” Lender Seeks Injunction Restraining CFPB Administrative Action

Dorsey & Whitney LLP on

On May 9, 2016, Integrity Advance, LLC and its CEO James Carnes filed suit against the Consumer Financial Protection Bureau (“CFPB”) in United States District Court for the District of Columbia seeking to enjoin the CFPB from...more

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