Account Recovery

SEPTEMBER 7, 2021

Judge Grants MSJ For Defendant in FDCPA Class Action; More Consumers Taking on New Kind of Debt appeared first on AccountsRecovery.net.

Fair Debt Collection 238

Fair Debt Collection Judgment Collections 238

Nerd Wallet

OCTOBER 26, 2022

6 Actions to Take Now originally appeared on NerdWallet. The first type, also known as application fraud, is when someone steals your credentials. Jae Bratton writes for NerdWallet. Email: jbratton@nerdwallet.com. The article Victim of Credit Card Fraud?

Trade 95

Trade 95

Consumer Finance

MARCH 26, 2024

The Consumer Financial Protection Bureau issued a new circular warning remittance transfer providers that false advertising about the cost or speed of sending a remittance transfer can violate federal law.

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125

Consumer Finance

APRIL 16, 2024

The CFPB issued an order against BloomTech and its CEO for deceiving students about the cost of loans and making false claims about graduates’ hiring rates.

Loans 142

Loans Student loans Student Loans Collections 142

Consumer Finance

FEBRUARY 14, 2022

The Consumer Financial Protection Bureau (CFPB) is taking action to halt prepaid card providers illegally siphoning money away from Americans through exclusive government benefit contracts.

Government 95

Government 95

Account Recovery

AUGUST 20, 2020

AG Takes Action Over ‘Aggressive’ Collection Tactics appeared first on AccountsRecovery.net. Coming into this business without any experience can be overwhelming and enough to make a lot of people … The post Daily Digest – August 20. Getting to Know Morgan Leija of Phillips & Cohen; Penn.

Collections 185

Collections 185

Consumer Finance

AUGUST 9, 2022

The Consumer Financial Protection Bureau (CFPB) is taking action against Hello Digit, LLC, a financial technology company that used a faulty algorithm that caused overdrafts and overdraft penalties for customers.

Banks 101

Banks 101

Consumer Finance

APRIL 12, 2021

The Consumer Financial Protection Bureau (CFPB) took action today against an online debt-settlement company for taking advantage of consumers, failing to disclose its relationship to certain creditors, and steering consumers into high-cost loans offered by affiliated lenders.

Loans 101

Loans Debt settlement Lender Creditors 101

UK debt collections

JANUARY 25, 2022

Businesses using company or insolvency laws to mitigate their liabilities have been warned they could face ‘assertive action’ Anything unethical which unfairly benefits Businesses at the expense of their customers could face investigation by the Financial Conduct Authority.

Law Firms 64

Law Firms Collection Agencies Collections Agency Creditors 64

Consumer Finance

OCTOBER 16, 2023

The Consumer Financial Protection Bureau (CFPB) and Justice Department today issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of their national origin, race, and other characteristics covered by the Equal Credit Opportunity Act, regardless of their immigration status. (..)

Financial Institution 137

Financial Institution 137

Consumer Finance

OCTOBER 11, 2023

The CFPB and Federal Trade Commission took action against a rental screening subsidiary of the TransUnion conglomerate.

Trade 145

Trade 145

Consumer Finance

AUGUST 29, 2023

Mortgage borrowers can take steps to find more affordable options. Homeowners insurance might get more expensive, or not be renewed at all.

Home Insurance 98

Home Insurance 98

Troutman Sanders

APRIL 22, 2021

The NPR came just days after the CFPB issued a bulletin on April 1 , warning servicers that they must “take all necessary steps now to prevent a wave of avoidable foreclosures” and that being unprepared to address such foreclosures is “unacceptable.”

Foreclosure 80

Foreclosure Loans Lender 80

Troutman Sanders

DECEMBER 1, 2021

On November 10, a group of Democratic senators sent a letter to Consumer Finance Protection Bureau (CFPB) Director Rohit Chopra, requesting that the CFPB take a proactive stance in its regulation of consumer reporting agencies (CRAs). The group, led by Sen. Brian Schatz (D-HI) and which includes Sens.

Trade 52

Trade 52

Consumer Finance

AUGUST 10, 2022

The Consumer Financial Protection Bureau (CFPB) confirmed in a circular published today that financial companies may violate federal consumer financial protection law when they fail to safeguard consumer data.

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112

Consumer Finance

NOVEMBER 9, 2021

Today, the Consumer Financial Protection Bureau (CFPB), jointly with other government agencies, announced a return to enforcement of critical protections for families and homeowners.

Foreclosure 85

Foreclosure Government 85

UK debt collections

NOVEMBER 5, 2021

While the government indicated it would take on around ten percent of the costs, the rest was to be paid by passengers. . In March and April of 2020, Switzerland started repatriating Swiss citizens from across the globe as the seriousness of the Covid pandemic became clear. .

Government 99

Government Collections 99

Consumer Finance

OCTOBER 19, 2022

Effort seeks to address false information on the credit reports of children in foster care and the general public.

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106

Consumer Finance

NOVEMBER 16, 2022

Company wrongly charged fees and inaccurately reported homeowner credit information despite pandemic-era housing protections.

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142

Consumer Finance

JUNE 7, 2023

The Consumer Financial Protection Bureau (CFPB) took action against medical debt collector Phoenix Financial Services (Phoenix) for numerous debt collection and credit reporting violations.

Financial services 107

Financial services Debt collector Collections 107

Consumer Finance

JULY 11, 2021

The Consumer Financial Protection Bureau (CFPB) took action against GreenSky, LLC for enabling contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them. million civil penalty, and implement new procedures to prevent future fraudulent loans.

Loans 75

Loans 75

Consumer Finance

NOVEMBER 3, 2021

The CFPB today issued an advisory opinion affirming that consumer reporting companies, including tenant and employment screening companies, are violating the law if they engage in shoddy name-matching procedures.

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95

Consumer Finance

JANUARY 10, 2023

The Consumer Financial Protection Bureau (CFPB) has reached a settlement in its lawsuit against law firm Forster & Garbus, LLP for illegal debt-collection practices.

Law Firms 97

Law Firms Collections 97

Consumer Finance

MAY 16, 2022

The Consumer Financial Protection Bureau (CFPB) released an enforcement memorandum today that addresses prohibited practices on claims about Federal Deposit Insurance Corporation (FDIC) insurance. Specifically, firms cannot misuse the name or logo of the FDIC or make deceptive representations about deposit insurance.

Banks 86

Banks 86

Collection Industry News

MAY 16, 2022

The post CFPB And FTC Continue To Take Action Against Debt Settlement Companies appeared first on Collection Industry News. The respondents agreed to repay consumers $8.7 million in unrefunded fees and pay an additional $3 million in penalties. The court issued a temporary restraining order granting these requests.

Debt settlement 40

Debt settlement Student loans Student Loans Loans 40

Consumer Finance

MAY 20, 2021

The Consumer Financial Protection Bureau (CFPB) issued a consent order today against 3rd Generation, Inc., doing business as California Auto Finance (California Auto) for illegally charging interest for late payment on its Loss Damage Waiver (LDW) product without its customers’ knowledge.

Lender 102

Lender 102

Collection Industry News

MAY 24, 2021

CFPB takes action against auto lender for unfair loss damage waiver practices. Enforcement Action. Under the CFPA, the CFPB has the authority to take action against institutions violating federal consumer financial laws, including by engaging in unfair, deceptive, or abusive acts or practices. Source: site.

Lender 40

Lender Loans Consumer Credit Collections 40

Consumer Finance

JUNE 26, 2023

This is the CFPB’s first action addressing unlawful data handling practices in processing mortgage payments. CFPB issues order against payment processor ACI Worldwide Corp. and its subsidiary ACI Payments Inc. ACI) improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions.

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98

Collections Law

MARCH 8, 2022

Realistically, you know that you may not be able to collect as much money as you had hoped, and their actions could limit your recovery significantly. This type of action is not to be taken lightly, however, and you will need an experienced attorney to help you. The attorneys at the Law Offices of Alan M.

Debtor 52

Debtor Bankruptcy Creditors Construction 52

Consumer Finance

MARCH 15, 2021

The Consumer Financial Protection Bureau (CFPB) today sued a student loan debt relief company, its owner, and manager for allegedly charging thousands of consumers more than $3.5 million in illegal upfront fees.

Student loans 108

Student loans Student Loans Loans Collections 108

Consumer Finance

JULY 10, 2023

Today, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay more than $100 million to customers for systematically double-dipping on fees imposed on customers with insufficient funds in their account.

Banks 101

Banks 101

Collection Industry News

MAY 3, 2021

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) this week took action against Nationwide Equities Corporation for sending deceptive loan advertisements to hundreds of thousands of older borrowers. This week’s] action underscores the Bureau’s commitment to helping protect older homeowners from unscrupulous companies.”.

Lender 40

Lender Loans Retail Collections 40

Consumer Finance

NOVEMBER 30, 2022

Today, the Consumer Financial Protection Bureau (CFPB) took action against Loan Doctor to resolve the CFPB’s claims that the company and its founder, Edgar Radjabli, broke the law by deceiving consumers into thinking they were depositing funds into a guaranteed return savings product within a commercial bank.

Banks 102

Banks Loans 102

Consumer Finance

APRIL 5, 2021

The Consumer Financial Protection Bureau (CFPB) today issued a consent order against a debt collector and its owner for harassing thousands of consumers, falsely threatening them with legal action. The CFPB found that Yorba Capital Management, LLC (Yorba) and its former owner, Daniel Portilla, Jr.,

Debt collector 81

Debt collector Fair Debt Collection Collections 81

Troutman Sanders

MARCH 15, 2023

The FDIC transferred all deposits and assets of the former bank to a newly created, full-service FDIC-operated bridge bank in an action designed to protect depositors. Silicon Valley Bank had 17 branches in California and Massachusetts. would open and resume normal banking hours and activities.

Banks 52

Banks Credit Unions Credit Unions Collateral 52

Consumer Finance

NOVEMBER 22, 2022

The CFPB and the New York Attorney General today took action against RD Legal Funding, two related entities, and the companies’ founder and owner, Roni Dersovitz to resolve their claims that defendants engaged in deceptive and abusive acts or practices under the Consumer Financial Protection Act in connection with offering cash advances to people on (..)

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78

Public Citizen

DECEMBER 16, 2020

The issue as framed by the petitioner, TransUnion, is whether "either Article III or Federal Rule of Civil Procedure 23 permits a damages class action when the vast majority of the class suffered no actual injury, let alone an injury anything like what the class representative suffered." " More at SCOTUSblog.

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