CFPB Submits 2020 Report to Congress on the Administration of the Fair Debt Collection Practices Act

The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) …

The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) to protect consumers, particularly those who have suffered profound financial impacts due to the COVID-19 pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-submits-2020-report-to-congress-on-the-administration-of-the-fair-debt-collection-practices-act/

Consumer Financial Protection Bureau Rescinds Abusiveness Policy Statement to Better Protect Consumers

On March 11, 2021, the Consumer Financial Protection Bureau announced it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”

On March 11, 2021, the Consumer Financial Protection Bureau announced it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-rescinds-abusiveness-policy-statement-to-better-protect-consumers/

Consumer Financial Protection Bureau and Virginia, Massachusetts, and New York Attorneys General Sue Libre for Predatory Immigrant-Services Scam

On February 22, 2021, the Consumer Financial Protection Bureau – in partnership with Virginia, Massachusetts, and New York – sued Libre by Nexus, Inc., and its owners for a predatory immigrant-services scam that traps victims into paying expensive, lon…

On February 22, 2021, the Consumer Financial Protection Bureau - in partnership with Virginia, Massachusetts, and New York - sued Libre by Nexus, Inc., and its owners for a predatory immigrant-services scam that traps victims into paying expensive, long-term fees.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-and-virginia-massachusetts-and-new-york-attorneys-general-sue-libre-for-predatory-immigrant-services-scam/

Consumer Financial Protection Bureau Settles with LendUp Loans, LLC for Military Lending Act Violations

On January 19, 2021, the Consumer Financial Protection Bureau filed a proposed settlement to resolve its December 4, 2020 lawsuit against LendUp Loans, LLC alleging violations of the Military Lending Act.

On January 19, 2021, the Consumer Financial Protection Bureau filed a proposed settlement to resolve its December 4, 2020 lawsuit against LendUp Loans, LLC alleging violations of the Military Lending Act.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-with-lendup-loans-llc-for-military-lending-act-violations/

Consumer Financial Protection Bureau Sues 1st Alliance Lending, LLC and Its Principals for Alleged Unlawful Mortgage Lending Practices

On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending prac…

On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending practices.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-sues-1st-alliance-lending-llc-and-its-principals-for-alleged-unlawful-mortgage-lending-practices/

Consumer Financial Protection Bureau Settles with Mortgage Servicer for Illegal Practices that Impeded Borrowers’ Attempts to Avoid Foreclosure

On December 18, 2020, the Consumer Financial Protection Bureau issued a consent order against Seterus, Inc. and Kyanite Services, Inc., as Seterus’s successor in interest, based on the Bureau’s finding that Seterus violated the Consumer Financial Prote…

On December 18, 2020, the Consumer Financial Protection Bureau issued a consent order against Seterus, Inc. and Kyanite Services, Inc., as Seterus’s successor in interest, based on the Bureau’s finding that Seterus violated the Consumer Financial Protection Act of 2010 and Regulation X.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-with-mortgage-servicer-for-illegal-practices-that-impeded-borrowers-attempts-to-avoid-foreclosure/

Consumer Financial Protection Bureau Settles with Debt Collector for Engaging in Deceptive Debt Collection Practices in Three States

On December 8, 2020, the Consumer Financial Protection Bureau issued a consent order against RAB Performance Recoveries, LLC for threatening to sue and suing consumers to collect debts where it did not have a legally required license to do so.

On December 8, 2020, the Consumer Financial Protection Bureau issued a consent order against RAB Performance Recoveries, LLC for threatening to sue and suing consumers to collect debts where it did not have a legally required license to do so.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-debt-collector-engaging-deceptive-debt-collection-practices-three-states/

Consumer Financial Protection Bureau and Multiple States Enter into Settlement with Nationstar Mortgage, LLC for Unlawful Servicing Practices

On December 7, 2020, the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar).

On December 7, 2020, the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-multiple-states-enter-settlement-nationstar-mortgage-llc-unlawful-servicing-practices/

Consumer Financial Protection Bureau Sues LendUp Loans, LLC for Allegedly Violating the Military Lending Act

On December 4, 2020, the Consumer Financial Protection Bureau filed a lawsuit against LendUp Loans, LLC alleging that LendUp violated the Military Lending Act (MLA) in connection with its extensions of credit.

On December 4, 2020, the Consumer Financial Protection Bureau filed a lawsuit against LendUp Loans, LLC alleging that LendUp violated the Military Lending Act (MLA) in connection with its extensions of credit.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-sues-lendup-loans-llc-allegedly-violating-military-lending-act/

Consumer Financial Protection Bureau Sues DMB Financial, LLC for Allegedly Violating the Telemarketing Sales Rule and Consumer Financial Protection Act

On December 1, 2020, the Consumer Financial Protection Bureau filed a lawsuit against DMB Financial, LLC alleging violations of the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010 in connection with its debt-settlement and de…

On December 1, 2020, the Consumer Financial Protection Bureau filed a lawsuit against DMB Financial, LLC alleging violations of the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010 in connection with its debt-settlement and debt-relief services.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-sues-dmb-financial-llc-allegedly-violating-telemarketing-sales-rule-and-consumer-financial-protection-act/