Washington AG Sues Debt Relief Firm
Washington State Attorney General Bob Ferguson filed a lawsuit Thursday accusing a Florida-based company and its owners of charging students illegal fees for debt relief services.  more »
The Consumer Financial Protection Bureau reached an $85,000 settlement Wednesday with a former Wells Fargo mortgage loan officer. more »
Two operations that allegedly ran student loan debt relief schemes are being targeted by the FTC and regulators in Florida while defendants in a similar action brought earlier this year agreed to a ban. more »
A Maryland jury delivered a verdict and $38 million judgment against a collection agency in a class-action lawsuit. It is the largest judgment against a collection agency in the state's history. more »
"They're trying to collect data without subjecting the methodology of that collection to public comment," said Jonathan Thessin, a senior counsel at the ABA's Center for Regulatory Compliance.
The Consumer Financial Protection Bureau is making an end run around existing regulations to collect data on overdraft programs, according to the American Bankers Association. more »
Two Michigan residents have filed a class-action lawsuit alleging that debt servicer Money Recovery Nationwide is unlawfully collecting additional fees. more »
While the CFPB has not set specific deadlines to issue proposals on debt collection, analysts expect so-called pre-rulemaking activities - typically a report or a small-business review panel - to occur this summer. more »
The Consumer Financial Protection Bureau is expected to unveil its formal proposal to restrict payday lending on June 2, the first national regulations of short-term, small-dollar loans. more »
Two Ohio law firms did not use illegal tactics when they mailed debt collection letters on stationery bearing the name of Ohio’s attorney general, according to a unanimous Supreme Court ruling Monday. more »
Defunct online lender Integrity Advance has filed a lawsuit accusing the Consumer Financial Protection Bureau of launching an enforcement action against the company without the legal authority to do so. more »
A debt collection agency will pay civil penalties and be required to adopt new procedures to settle Federal Trade Commission charges that it violated requirements of the Fair Credit Reporting Act. more »
A federal judge in Pennsylvania has ruled that a recovery agency facing alleged Fair Debt Collection Practices Act violations will see that case go forward. more »
Subprime auto lender Credit Acceptance Corp. has received a subpoena from the Maryland attorney general regarding its repossession and sales policies. more »

Email Newsletters

Get the Payments Update and the Morning Scan when you sign up for a free trial.

Already a subscriber? Log in here
Please note you must now log in with your email address and password.