News & Analysis as of September 20, 2024

Unfair or Deceptive Trade Practices

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

CFPB Bites of the Month - December Top 20

Hudson Cook, LLP on 12/18/2020

Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

Goodwin on 10/2/2020

In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

CFPB Issues Additional Consent Orders for False and Misleading Mortgage Advertising

Ballard Spahr LLP on 9/10/2020

Since late July, the CFPB has issued seven consent orders against mortgage companies in which the CFPB asserts that the companies engaged in false and misleading advertising to service members and veterans. ...more

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

Ballard Spahr LLP on 3/3/2017

On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

FTC provides 2015 enforcement report to CFPB

Ballard Spahr LLP on 6/7/2016

The Federal Trade Commission has provided its annual report to the CFPB covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in Lending), Regulation M (Consumer Leasing), and...more

Consumer Financial Protection Bureau Levies Repayment, Civil Fines for Deceptive Mortgage Practices

BakerHostetler on 8/12/2015

On Tuesday, July 28, the Consumer Financial Protection Bureau ordered Paymap Inc., a Colorado-based payment processing company and wholly owned subsidiary of Western Union Company, to repay consumers $33.4 million in fees and...more

Consent Judgments Entered Against Individuals and Law Firm Accused of Mass-Joinder Mortgage Rescue Scams

Ballard Spahr LLP on 4/20/2015

Consent judgments in a lawsuit brought by the Florida and Connecticut Attorneys General have been entered against five individuals and one law firm for their part in an alleged “mass-joinder” mortgage rescue scam....more

Dodd-Frank’s New Deputies of Federal Consumer Financial Laws—States

Goodwin on 9/23/2014

In the wake of the Financial Crisis, the federal government has invigorated its civil fraud enforcement. The U.S. Department of Justice has dominated the headlines in this area with a series of significant lawsuits and...more

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