CFPB fines four California credit repair companies for misleading consumers

Today, the CFPB issued a press release announcing that it filed two complaints and a proposed final judgment in federal court against Prime Credit, LLC, IMC Capital, LLC, Commercial Credit Consultants, and Park View Law. According to the Bureau, the four California-based credit-repair companies misled consumers and charged illegal upfront fees for so-called credit [...]

By | 2017-06-27T21:54:41+00:00 June 27th, 2017|CFPB Enforcement, Debt Relief, Enforcement Action|0 Comments

FTC takes action against robocall scam that pitched worthless credit card rate reduction programs

On June 5, 2017, the FTC issued a press release announcing that, in a case filed by the agency and the Florida Attorney General (AG), a Florida federal district court judge has entered eight orders against a collection of Orlando-based individuals and companies that harassed consumers with unlawful robocalls from “Card Member Services,” to [...]

By | 2017-06-06T19:18:26+00:00 June 5th, 2017|Enforcement Action, FTC Enforcement|0 Comments

Massachusetts judge voids hundreds of illegal online auto title loans

On May 25, 2017, the Massachusetts Attorney General issued a press release announcing that it had obtained a judgment in Superior Court against Liquidation LLC, an unlicensed auto little lender that made hundreds of illegal loans to Massachusetts consumers. According to the press release, the court declared the loans void, dissolved the liens that [...]

By | 2017-06-09T22:36:57+00:00 June 1st, 2017|Auto Title Loans, Enforcement Action|0 Comments

North Carolina court enters $35 million judgment against illegal debt relief companies

On March 9, 2017, the North Carolina Attorney General (AG) issued a press release announcing that a North Carolina Superior Court had issued a ruling against three debt relief companies. The court permanently banning the companies from advertising or performing any debt relief services, legal services or any related services in North Carolina and entered [...]

By | 2017-03-14T07:34:07+00:00 March 14th, 2017|Debt Relief, Enforcement Action, Uncategorized|0 Comments

FTC reaches $1.7 million settlement with mortgage relief scam defendant

On February 23, 2017, the Federal Trade Commission (FTC) issued a press release announcing that it had entered into a stipulated order with a defendant in an alleged mortgage relief scam. The defendant, Gabriel Stewart was the last of six defendants to resolve charges brought by the FTC in July 2014. The FTC alleged that [...]

By | 2017-02-28T10:40:40+00:00 February 28th, 2017|Enforcement Action, FTC Enforcement, Mortgages, Uncategorized|0 Comments

What debt collectors can learn from the FTC settlement with GC Services

Last week, we wrote about the settlement agreement between the FTC and debt collector GC Services Limited Partnership. In most circles, the $700,000 civil money penalty would be the most significant aspect of the settlement. In our opinion, however, the most noteworthy and valuable information appears in the sections of the consent order that prohibit GC [...]

By | 2017-02-22T11:47:49+00:00 February 22nd, 2017|Debt Collection, Enforcement Action, FTC Enforcement, Uncategorized|0 Comments

Ocwen to pay $225 million for mortgage servicing violations

Mortgage servicer Ocwen will pay $225 million in refunds and loan forgiveness to California consumers after entering into a consent order with the California Department of Business Oversight (California DBO) last week. According to the California DBO’s February 17, 2017 press release, an independent investigation of Ocwen’s mortgage servicing practices revealed hundreds of violations of [...]

By | 2017-02-21T22:01:13+00:00 February 21st, 2017|Enforcement Action, Mortgages, Uncategorized|0 Comments

Loan service and referral companies pay $8 million in settlement with Florida AG

On February 14, 2017, the Florida Attorney General’s Office issued a press release announcing that it had entered into three consent judgments and one settlement with four related loan service companies and operators. The consent judgments and settlement resolve allegations that the companies engaged in acts and practices in violation of the Florida Deceptive and Unfair Trade [...]

By | 2017-02-20T06:41:47+00:00 February 20th, 2017|Enforcement Action, Uncategorized|0 Comments

Georgia AG reaches $40 million settlement with online payday lender

On February 9, the Georgia Attorney General’s Office issued a press release announcing that it reached a settlement with online payday lenders Western Sky Financial, CashCall and affiliates (Defendants). The settlement resolved the Georgia AG’s multi-year legal battle with the California-based online lender for charging illegal interest and fees under an alleged “rent-a-tribe” scheme.   [...]

By | 2017-02-13T12:06:52+00:00 February 13th, 2017|Enforcement Action, Payday Loans, Uncategorized|0 Comments

HUD reaches $1.25 million settlement with mortgage lender for concealing defaults from FHA

On February 7, the US Attorney for the Eastern District of New York, the Office of the Inspector General for the Department of Housing and Urban Development (HUD), and the Inspector General for the Federal Deposit Insurance Corporation (FDIC) issued a press release announcing a settlement agreement with residential mortgage lender, Franklin First Financial, Ltd. [...]

By | 2017-02-09T11:41:36+00:00 February 9th, 2017|Enforcement Action, Mortgages, Uncategorized|0 Comments
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