The CFPB and Credit Repair Cloud, have reached agreement over allegations that the firm helped other credit repair businesses charge illegal fees to consumers....more
On August 8, the CFPB proposed a stipulated final judgment and order to the U.S. District Court for the Central District of California against a credit repair software company. If approved by the District Court, this order...more
Welcome to the Debt Collection and Debt Settlement chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Enforcement actions related to debt collection and debt...more
On August 28, the CFPB announced a proposed settlement with Utah-based credit repair telemarketing company and its affiliates for allegedly committing deceptive acts and practices in violation of the Telemarketing Sales Rule...more
On August 28, the CFPB announced a proposed settlement with Utah-based credit repair telemarketers and various affiliates (collectively, "defendants") for allegedly committing deceptive acts and practices in violation of the...more
The CFPB announced this week that it has entered into a proposed settlement of a lawsuit it filed in 2019 in Utah federal district court against a group of defendants who constitute the largest credit repair organizations in...more
In May 2019, the CFPB initially sued six associated companies for allegedly violating the Consumer Financial Protection Act's prohibition against deceptive practices and the Telemarketing Sales Rule ("TSR")....more
Recently, PGX Holdings, Inc. (PGX), one of the nation’s largest consumer credit repair companies, and twelve affiliates have entered into Chapter 11 bankruptcy under pressure from a potential $3 billion CFPB judgment for...more
On April 20, Washington Governor, Jay Inslee, signed into law HB 1311 creating new regulations for credit repair organizations (CROs) in the state. Among other things, the new law outlines requirements for CROs, which include...more
In this month's article, we share some of our top "bites" for the prior month covered during the April 2023 webinar....more
On February 13, the U.S. District Court for the Eastern District of Michigan denied a motion to dismiss filed by certain defendants in a credit repair scheme....more
On March 18, the District Court for the Southern District of Texas entered an injunction against a credit repair organization, Turbo Solutions, Inc. d/b/a Alex Miller Credit Repair, and its owner Alex Miller for alleged...more
The Consumer Financial Protection Bureau recently filed a lawsuit in federal district court accusing a California-based software company and its founder, owner, and CEO of providing substantial assistance to illegal credit...more
On September 20, the CFPB filed a lawsuit in federal district court against a California-based software company and its owner for allegedly violating the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection...more
On September 20, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in the U.S. District Court of the Central District of California against a California-based software company and its...more
On January 29, 2021, the FTC announced that it filed a proposed settlement in the District of Nevada with two Nevada-based consulting companies, resolving claims that the companies violated the FTC Act, Telemarketing and...more
The CFPB and the Massachusetts Attorney General’s Office have filed a lawsuit against a credit repair company and the company’s individual owner in federal district court in Massachusetts....more
Regulators are keeping a close eye on credit repair companies as evidenced by a pair of new lawsuits filed by the Illinois attorney general and a separate action brought by the Federal Trade Commission (FTC)....more
On July 9, 2019, the United States District Court for the Northern District of California entered a stipulated final judgment and order in case number 17-cv-06484, Consumer Financial Protection Bureau v. Freedom Debt Relief,...more
A motion to dismiss has been filed by the group of credit repair companies sued by the CFPB in Utah federal district court for alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act...more
The CFPB announced that it has settled the lawsuit it filed in a California federal district court against Freedom Debt Relief (FDR) and its CEO for alleged violations of the Consumer Financial Protection Act (CFPA) and the...more
The CFPB has filed a complaint in Utah federal district court against a related group of companies that provide credit repair services for alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial...more
The CFPB has filed a lawsuit in a California federal district court against Freedom Debt Relief (FDR) and its CEO for alleged violations of the Consumer Financial Protection Act (CFPA) and the Telemarketing Sales Rule (TSR). ...more
The CFPB recently submitted a proposed stipulated final order that would shut down a credit repair service and permanently enjoin it from “[a]dvertising, marketing, promoting, providing, offering for sale, selling, assisting...more
On August 30, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a stipulated proposed final judgment in the U.S. District Court for the Central District of California in a case against a...more