On September 28, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it ordered an Alabama bank to pay over $190 million to resolve allegations that it charged its customers surprise overdraft fees between August 2018 and July 2021.
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CFPB Enters Into $950,000 Consent Order With Non-Bank Remittance Transfer Provider
By Jackie Odum
On October, 4, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with a non-bank remittance transfer provider to resolve alleged violations of the Electronic Fund Transfer Act (EFTA), 15 U.S.C. § 1693 et seq., and its implementing Regulation…
U.S. Attorney’s Office Settles False Claims Act Allegations with Paycheck Protection Program Lender
On September 13, 2022, the U.S. Attorney’s Office (USAO) for the Southern District of Texas announced that it had reached a settlement with a bank that served as a lender under the Paycheck Protection Program (PPP) to resolve allegations that the…
State AGs Sue Personal Lending Company Over Hidden Add-Ons
On August 16, 2022, the Pennsylvania Attorney General announced that a group of attorneys general for the Commonwealth of Pennsylvania, the States of New Jersey, Oregon, Utah, and Washington, and the District of Columbia (collectively, “the AGs”) had filed a multistate lawsuit against a personal…
CFPB Enters Into Consent Order with Fintech Company for $2.7 Million
On August 10, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a California Fintech company for allegedly engaging in deceptive acts and practices in violation of the Consumer Financial Protection Act.…
California Department of Financial Protection & Innovation Settles With “Buy Now, Pay Later” Company
By Collin Grier
On August 3, 2022, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with a Florida-based lending company that allegedly made “illegal loans.” Specifically, the consent order alleges that the company’s…
CFPB and DOJ Reach $24.4 Settlement with Mortgage Originator for Alleged Lending Discrimination
By Jackie Odum
On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) announced that they reached a settlement with a nonbank residential mortgage lender to resolve allegations of race-based lending discrimination in violation of the Fair…
Massachusetts AG Resolves Allegations that Motor Vehicle Title Lender Issued Illegal Loans
On June 29, 2022, the Massachusetts Attorney General’s Office announced that it had resolved allegations that a motor vehicle title lender made illegal loans to customers and repossessed cars to collect payments, with a settlement agreement that requires the lender to…
USAO Settles with California Lender for $1 Million
By Collin Grier
On June 22, 2022, the USAO for the Eastern District of Washington announced that it had reached a settlement with a California-based mortgage lender for fraudulent originations of Federal Housing Administration (FHA) backed loans. The investigation began as a qui…
CFPB Bans Student Debt Relief Operator From Industry
By Collin Grier