Consumer Finance Monitor Podcast Episode: Recent Developments Affecting Student Loan Origination and Servicing
Consumer Finance Monitor Podcast Episode: A Deep Dive into Mass Mailings by Debt Relief Law Firms
Monthly Minute | Financial Relief for COVID-19
On May 20, the CFPB released its consent order and stipulation against a debt relief provider for alleged deceptive acts and practices in violation of the CFPA and for alleged deceptive telemarketing practices and collection...more
On May 20, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based telemarketer that offered student loan debt relief services resolving...more
On May 20, 2024, the CFPB announced a settlement with a telemarketing company that offers student loan debt relief services to resolve allegations that it violated the Telemarketing Sales Rule ("TSR") and the Consumer...more
In this month's article, we share some of our top "bites" covered during the February 2024 webinar....more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
With federal student loans approaching $1.7 trillion, private student loans approaching $129 billion, strident consumer group advocacy, and national elections on the horizon, student loan origination and servicing continues...more
On January 19, the CFPB and seven state attorneys general (Colorado, Delaware, Illinois, Minnesota, New York, North Carolina, and Wisconsin) announced a lawsuit against a debt-relief company, its subsidiaries, and its two...more
On January 10, the CFPB and the attorneys generals of Colorado, Delaware, Illinois, Minnesota, New York, North Carolina, and Wisconsin sued a New York-based debt relief company and its founders in the U.S. District Court for...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more
It is known the Consumer Financial Protection Bureau (CFPB) makes public all the complaints lobbied by consumers against financial companies. Have you looked at it? The volume of these complaints is exploding: nearly 100,000...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • Minnesota AG Investigates Student Loan Debt Relief...more
On July 7, the U.S. District Court for the Central District of California entered a final judgment and order against an individual defendant accused of operating and controlling a deceptive student loan debt relief operation....more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
Recent Consent Order Issued by the DFPI Against Student Loan Relief Company - On February 28, 2023, the California Department of Financial Protection and Innovation (DFPI) announced that it has entered into a Consent Order...more
In December, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s ruling holding an individual liable for violations of the FCRA, the TSR, and the CFPA after the defendant, who allegedly “played a...more
HIGHLIGHTS: The CFPB announced a complaint against a single defendant - the owner of a student loan debt relief company - concerning unauthorized charges and withdrawals from student borrower accounts in violation of the...more
On April 29, the CFPB filed a proposed order in federal court seeking final judgment against three California-based defendants for engaging in unlawful fee-charging practices and deceptive telemarketing. According to the...more
The CFPB announced an $11 million resolution of Telemarketing Sales Rule and Consumer Financial Protection Act claims against debt-relief payment processors and two individuals for allegedly collecting improper fees from...more
CFPB filed a proposed stipulated final judgment to resolve allegations against affiliated debt relief companies and their top executive concerning alleged wrongful fee-charging practices and deceptive telemarketing in...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
On June 29, the CFPB and the Georgia Attorney General’s Office settled with a debt-relief and credit-repair company and its owners for allegedly deceiving consumers into hiring the company to lower or eliminate credit-card...more
In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more
In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more
On December 9, 2020, Congressional Democrats, including Elizabeth Warren (D-Mass.) and Jerrold Nadler (D-N.Y.), proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes generally make it...more