Topic
Predatory Lending
95 published works
Consumer Financial Services Law Monitor
CFPB and DOJ File Lawsuit Against Housing Developer/Lender Over Targeting Hispanic Borrowers with Alleged False Statements and Predatory Loans
By Brooke Conkle, Tim J. St. George, Chris Willis, Alan D. Wingfield, Lori Sommerfield
On December 20, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint in a Texas federal court against Colony Ridge Development, LLC (Colony Ridge),…
Consumer Finance Monitor
Predatory Loan Prevention Bill Introduced in Florida to Codify “True Lender” Analysis
By John L. Culhane, Jr., Ronald K. Vaske, Mindy Harris
Florida SB 146, a bill that would add a “Predatory loan prevention” section to the Florida Consumer Finance Act has been introduced in the Florida Senate, seeking to curb bank-model…
Consumer Finance Monitor
New York federal court stays lawsuit filed jointly by CFPB and New York Attorney General pending SCOTUS decision in CFSA
In January 2023, the CFPB filed a lawsuit in a New York federal district court jointly with the New York Attorney General (NYAG) against an auto finance company alleging violations…
Consumer Finance Monitor
CFPB files amicus brief in support of private plaintiffs in reverse redlining lawsuit
By John L. Culhane, Jr., Richard J. Andreano, Jr.
The CFPB has filed an amicus brief in the U.S. Court of Appeals for the Second Circuit in a private lawsuit brought by a group of eight Black and Hispanic…
Law Times News
Tribunal suspends licence of Mississauga lawyer for allegedly taking part in predatory loan scheme
Transactions in question involve fixed-income seniors and 25 percent 'usurious' interest rates
Consumer Finance and Fintech Blog
Pennsylvania AG Targets Rent-to-Own Company for Alleged Deceptive and Predatory Practices
By Moorari Shah, A.J. Dhaliwal
On May 15, the Pennsylvania Attorney General Attorney General Michelle Henry announced a $11 million settlement with a rent-to-own lender and its subsidiaries accused of engaging in predatory financing practices.…
Consumer Financial Services Review
Pennsylvania Targets Rent-to-Own Company Over Practices
By Steven M. Kaplan, Eric T. Mitzenmacher, Daniel Pearson
Pennsylvania Attorney General Michelle Henry just announced an $11 million settlement with a rent-to-own provider resolving allegations of deceptive and predatory financing practices. The May 15, 2023, settlement, which is…
LenderLaw Watch
CFPB Enters Into $15 Million Settlement with Auto Lender
By Laura Brys
On February 23, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with an auto lender based in Georgia. The order resolves allegations that the lender engaged in unfair practices…
Consumer Finance and Fintech Blog
CFPB and New York AG File Suit Against “Predatory” Auto Lender
By Moorari Shah, A.J. Dhaliwal, Matt Benz
On January 4, the CFPB and the New York State Office of the Attorney General filed a complaint against a prominent subprime auto lender in the Southern District of New…
LenderLaw Watch
CFPB and New York AG Announce Joint Enforcement Action Against Auto Lender
On January 4, 2023, the Consumer Financial Protection Bureau (CFPB) and New York State Office of the Attorney General (NY AG) announced a joint enforcement action against one of the country’s largest…