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Consumer Protection Act Consent Order

Cozen O'Connor

CFPB Chimes in on Alleged Remittance Transfer Falsehoods

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The CFPB issued a consent order against fintech company Chime, Inc. d/b/a Sendwave to resolve allegations that it violated the Electronic Fund Transfer Act and related regulations, as well as the Consumer Protection Act of...more

Cozen O'Connor

DC AG Racine Fines Instacart Over Allegedly Misleading Consumers About Fees

Cozen O'Connor on

District of Columbia AG Karl Racine settled a lawsuit with online delivery service Instacart to resolve allegations that Instacart misled customers in the District regarding service fees and failed to remit taxes on those...more

Cozen O'Connor

Reverse Mortgage Provider Allegedly Misled Consumers Despite 2016 Consent Decree

Cozen O'Connor on

The Consumer Financial Protection Bureau (“CFPB”) reached a settlement with reverse mortgage provider American Advisors Group (“AAG”) to resolve allegations that it engaged in deceptive conduct to market and sell its reverse...more

Cozen O'Connor

Lender Allegedly Used Unlawful And Misleading Tactics To Market Reverse Mortgages

Cozen O'Connor on

The Consumer Financial Protection Bureau (“CFPB”) reached a settlement with reverse-mortgage lender Nationwide Equities Corporation (“Nationwide Equities”) to resolve allegations that it used false and misleading advertising...more

Goodwin

Financial Services Weekly News - April 2017 #4

Goodwin on

Editor's Note - State Regulators Sue OCC Over Federal FinTech Charter. On April 26, the Conference of State Bank Supervisors (CSBS) sued the Office of the Comptroller of the Currency (OCC) in the U.S. District Court for...more

BakerHostetler

CFPB Announces $2.5 Million Fine, Compliance Monitoring for Deceptive Debt Collection Practices

BakerHostetler on

On April 25, 2016, the Consumer Financial Protection Bureau (CFPB) entered into consent orders with a debt collection law firm, two of the firm’s principal partners, and New Century Financial Services, Inc., a company that...more

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