Account Recovery

MARCH 5, 2021

a consumer finance lender that caters to Latino immigrants, disclosed yesterday that its lending and debt collection practices are being investigated by the Consumer Financial Protection Bureau as part of an apparent wider investigation into whether small dollar lenders have violated federal consumer protection laws. Opportun Inc.,

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Lender Collections 225

Account Recovery

MARCH 26, 2021

In a sign of what may be to come, two members of Congress have announced plans to use the Congressional Review Act to repeal the Office of the Comptroller of the Currency’s “True Lender” rule, which was put into effect to help facilitate the sale of loans and portfolios from banks to debt buyers, among … The post Legislation (..)

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Lender Loans Banks 238

Account Recovery

JANUARY 28, 2022

million to consumers who lost money because of unfair and deceptive loan servicing practices by online lender Avant, LLC. Million To Consumers Harmed by Online Lender Avant appeared first on AccountsRecovery.net. The Federal Trade Commission is returning more than $3.7

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Lender Loans Trade 245

Account Recovery

DECEMBER 22, 2021

Creditors and lenders are going to be a little more aggressive in their risk-taking in 2022, according to data provided by TransUnion, thanks to delinquency and charge-off rates that have remained stable through this year.

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Lender Loans Creditors 246

Account Recovery

FEBRUARY 24, 2023

The lender was accused of making illegal loans to military families, altering documents so that the borrowers would not be identified as servicemembers, and … The post Title Lender to Pay $15M in Penalties for Overcharging Military Families first appeared on AccountsRecovery.net.

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Lender Loans 130

Account Recovery

JANUARY 6, 2021

A group of eight state attorneys general filed suit yesterday in federal court in New York to block a rule that was issued by the Office of the Comptroller of the Currency that aimed to close a gap in the process of banks selling loans to third parties, such as debt buyers, arguing that the … The post States Sue Bank Regulator to Overturn ‘True (..)

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Lender Banks Loans Debt Buying 246

Account Recovery

DECEMBER 7, 2020

The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against LendUp, an online lender, accusing it of violating the Military Lending Act, as part of a “broader Bureau sweep of investigations of multiple lenders” who might be violating the law.

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Lender 235

Account Recovery

SEPTEMBER 8, 2020

A payday lender is appealing an administrative law judge’s ruling that it should repay $132 million in restitution to individuals who were misled regarding the terms of the loans they originated, were wrongfully required to provide access to their bank accounts, and had money taken from those accounts without their approval.

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Lender Loans Banks 195

Account Recovery

AUGUST 2, 2021

A District Court judge in Kansas has granted a petition from the Consumer Financial Protection Bureau to enforce an administrative order that assessed more than $50 million in fines and restitution against an online lender and its chief executive, even though the order has been appealed to the Court of Appeals for the Tenth Circuit.

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Lender 246

Account Recovery

FEBRUARY 13, 2023

Maybe … The post Application for Debt Collection License Leads to Enforcement Action Against Online Lender first appeared on AccountsRecovery.net. The post Application for Debt Collection License Leads to Enforcement Action Against Online Lender appeared first on AccountsRecovery.net.

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Lender Collections Loans 130

Account Recovery

APRIL 17, 2023

The post CFPB Denies Petition to Set Aside CID From Payday Lender appeared first on AccountsRecovery.net.

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Lender 130

Account Recovery

FEBRUARY 21, 2022

AG, AUTO LENDER REACH $5.6M SETTLEMENT OVER COLLECTION PRACTICES An auto lender has agreed to pay $5.6 AG, Auto Lender Reach $5.6M APPEALS COURT VACATES DISMISSAL OF FDCPA … The post Daily Digest – February 21. APPEALS COURT VACATES DISMISSAL OF FDCPA … The post Daily Digest – February 21.

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Lender Collections 246

Account Recovery

SEPTEMBER 13, 2021

AG Reaches $3M Settlement With Auto Lender Over Origination, Collection Issues appeared first on AccountsRecovery.net.

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Lender Collections 244

Account Recovery

SEPTEMBER 9, 2021

Five years later, the company is essentially still … The post CFPB Sues Online Lender for Violating Earlier Consent Order, Allegedly Deceiving Borrowers appeared first on AccountsRecovery.net. million in fines and restitution for misleading borrowers about the cost of its loans and the benefits of repeated borrowing.

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Lender Loans 244

Account Recovery

AUGUST 10, 2021

A class-action lawsuit has been filed against Harley-Davidson Financial Services, accusing the lender of violating the Telephone Consumer Protection Act and the Illinois Consumer Fraud and Deceptive Business Practices Act because it allegedly contacted the plaintiff on her cell phone after she had revoked consent to be contacted.

Lender 246

Lender Collections Financial services 246

Account Recovery

SEPTEMBER 1, 2020

a subprime auto lender, for knowingly originating loans to individuals even though it knew they would be unable to repay them, and then said the lender “harassed” those individuals by calling them as many as eight times a day in attempting to … The post Mass.

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Lender Collections Loans 246

Account Recovery

SEPTEMBER 2, 2021

AG Reaches $27M Settlement With Auto Lender, Allegations Included Violating State Call Limits appeared first on AccountsRecovery.net. A copy of the settlement agreement with Credit Acceptance … The post Mass.

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Lender Collections 242

Account Recovery

JULY 13, 2021

The company, GreenSky, was accused of working with merchants — namely home … The post CFPB Issues Consent Order; Fintech Lender to Pay $11M in Fines, Refunds to Consumers appeared first on AccountsRecovery.net. million and requiring it to cancel or refund up to $9 million in loans.

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Lender Loans 246

Account Recovery

AUGUST 23, 2023

Judge Partially Grants MSJ for Defense in FCRA, FDCPA Case Over Claims Debt was Settled CFPB Sues Lender for ‘Churning’ Borrowers into Repeated Refinancings FTC Sues, Gets TRO to Stop Student Loan Debt Relief Scam 25 Companies Seeking Collection Talent WORTH NOTHING: Questions ahead of the first debate of the 2024 Presidential election cycle … (..)

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Lender Student loans Student Loans Loans 130

Account Recovery

AUGUST 12, 2021

The company, Avant, was accused of making excessive telephone calls to individuals with unpaid debts and of failing … The post Online Lender to Pay $1.6M A company that services online loans made to consumers has agreed to pay $1.6 Fine In Settlement With Mass. AG Over Alleged Collection Abuses appeared first on AccountsRecovery.net.

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Lender Collections Loans 246

Account Recovery

MAY 12, 2021

The … The post Senate Passes Bill Repealing OCC’s ‘True Lender’ Rule Aimed at Boosting Loan Sales appeared first on AccountsRecovery.net.

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Lender Loans Banks Debt Buying 200

Account Recovery

SEPTEMBER 1, 2020

AG SUES AUTO LENDER FOR VIOLATING STATE COLLECTION CALL LIMITS, AMONG OTHER VIOLATIONS The Attorney General of Massachusetts yesterday announced a lawsuit against Credit Acceptance Corp., AG Sues Auto Lender For Violating State Call Limits; Calif. Legislature Approves State CFPB appeared first on AccountsRecovery.net.

Lender 246

Lender Loans Collections 246

Account Recovery

JULY 27, 2022

Judge Partially Grants MSJ for Defendant in FDCPA Case; Lender to Pay $19M For Credit Reporting ‘Failures’ appeared first on AccountsRecovery.net.

Fair Debt Collection 245

Fair Debt Collection Lender Judgment Collections 245

Account Recovery

APRIL 17, 2023

Judge Remands FDCPA Case Back to State Court; CFPB Denies Petition to Set Aside CID From Payday Lender first appeared on AccountsRecovery.net. Judge Remands FDCPA Case Back to State Court; CFPB Denies Petition to Set Aside CID From Payday Lender appeared first on AccountsRecovery.net. The post Daily Digest – April 17.

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Lender Fair Debt Collection Collections 130

Account Recovery

OCTOBER 28, 2020

… The post OCC Issues ‘True Lender’ Final Rule To Help Facilitate Loan Sales appeared first on AccountsRecovery.net. The rule will go into effect 60 days after it is published in the Federal Register.

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Lender Loans Banks 221

Account Recovery

FEBRUARY 24, 2023

Complaint Accuses Firm of Pursuing Suit After ID Theft Claim; Title Lender to Pay $15M in Penalties first appeared on AccountsRecovery.net. Complaint Accuses Firm of Pursuing Suit After ID Theft Claim; Title Lender to Pay $15M in Penalties appeared first on AccountsRecovery.net. The post Daily Digest – February 24.

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Lender Law Firms Collections 130

Account Recovery

JULY 13, 2021

CFPB Issues Consent Order Against Fintech Lender appeared first on AccountsRecovery.net. The bills were authored by Phil Mendelson, the chairman … The post Daily Digest – July 13. Emergency Collection Bills Introduced in D.C.;

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Lender Collections 246

Account Recovery

SEPTEMBER 16, 2020

A copy of the complaint, filed … The post CFPB, State AGs Settle With Private Lender; $330M of Student Loans to be Discharged appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Lender Loans 246

Account Recovery

JULY 29, 2020

A consumer finance lender that caters to Latino immigrants has agreed to dismiss all pending collection lawsuits it has filed and committed to filing 60% fewer cases in the future after consumer advocates and journalists started asking the company questions about its collection practices.

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Lender Collections 173

Account Recovery

MAY 11, 2021

The Consumer Financial Protection Bureau has denied a petition from an auto title lender to modify or set aside a civil investigative demand looking into the company’s debt collection practices, among other areas of the business, as well as denied a petition for confidential treatment of the inquiry.

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Lender Collections 147

Account Recovery

FEBRUARY 12, 2021

The settlement also includes a … The post FTC Bans Payday Lenders, Forgives Illegal Debt as Part of Settlement appeared first on AccountsRecovery.net.

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Lender Trade 189

Account Recovery

SEPTEMBER 13, 2021

AG Reaches $3M Settlement With Auto Lender appeared first on AccountsRecovery.net. Those statements do not specifically violate the Fair Debt Collection … The post Daily Digest – September 13. Judge Grants MSJ For Defendant in FDCPA Case; Colo.

Fair Debt Collection 244

Fair Debt Collection Lender Collections 244

Nerd Wallet

JULY 7, 2022

The article Potential Lenders originally appeared on NerdWallet. Better BNC National Bank Fast Forward Home Loans First Mortgage Direct GO Mortgage Guaranteed Rate KS Statebank LenderFI loanDepot NBKC New American Funding Northpointe Rocket Mortgage, LLC SoFi Watermark Home Loans. NerdWallet writes for NerdWallet.

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Lender Loans Banks 70

Nerd Wallet

JULY 7, 2022

The article Potential Lenders originally appeared on NerdWallet. You may be matched with the following NerdWallet partners: Better BNC National Bank Guaranteed Rate loanDepot NASB NBKC New American Funding Northpointe Rocket Mortgage, LLC Veterans United. NerdWallet writes for NerdWallet. Email: articles@nerdwallet.com.

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Lender Banks 66

Consumer Finance

MAY 30, 2023

The Consumer Financial Protection Bureau (CFPB) has ordered installment lender OneMain Financial to pay $20 million in redress and penalties for failing to refund interest charged to 25,000 customers who cancelled purchases within a purported “full refund period,” and for deceiving borrowers about needing to purchase add-on products to receive a loan. (..)

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Lender Loans 102

Jimerson Firm

FEBRUARY 8, 2021

The SBA Office of Credit Risk Management (“OCRM”), conducts continuous, risk-based lender oversight on all SBA lenders and CDCs. When preparing for an inevitable on-site audit, lenders and CDCs should be aware of these 7 things. Do Lenders and CDCs Have to Provide the Auditor With Access to Their Loan Files? 120.1050(a).

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Lender Loans Banks 98

Jimerson Firm

FEBRUARY 12, 2021

The SBA, through the Office of Credit Risk Management (“OCRM”), monitors and oversees the activities of all its lenders and CDCs to ensure it is effectively following loan program requirements and protecting the integrity of the SBA program. There are ten grounds that may trigger an enforcement action against all SBA lenders and CDCs.

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Lender Loans Financial services Banks 93