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/

Consumer Financial Protection Bureau Issues No Action Letter to Facilitate the Use of Artificial Intelligence for Pricing and Underwriting Loans

The Consumer Financial Protection Bureau granted a no-action letter to Upstart Network, Inc., regarding its automated model for underwriting and pricing applicants for unsecured, closed-end loans.

The Consumer Financial Protection Bureau granted a no-action letter to Upstart Network, Inc., regarding its automated model for underwriting and pricing applicants for unsecured, closed-end loans.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-issues-no-action-letter-facilitate-use-artificial-intelligence-pricing-and-underwriting-loans/

Consumer Financial Protection Bureau Settles with U.S. Equity Advantage, Inc. and Its Owner, Robert M. Steenbergh, for Deceptive Sales Practices

On November 20, 2020, the Consumer Financial Protection Bureau issued a consent order against U.S. Equity Advantage, Inc. and its owner, Robert M. Steenbergh.

On November 20, 2020, the Consumer Financial Protection Bureau issued a consent order against U.S. Equity Advantage, Inc. and its owner, Robert M. Steenbergh.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-us-equity-advantage-inc-and-owner-robert-m-steenbergh-deceptive-sales-practices/

Consumer Financial Protection Bureau Sues Debt Settlement Company FDATR, Inc., and Owners Dean Tucci and Kenneth Wayne Halverson

On November 20, 2020, the Consumer Financial Protection Bureau filed a lawsuit against FDATR, Inc., and its owners, Dean Tucci and Kenneth Wayne Halverson.

On November 20, 2020, the Consumer Financial Protection Bureau filed a lawsuit against FDATR, Inc., and its owners, Dean Tucci and Kenneth Wayne Halverson.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-sues-debt-settlement-company-fdatr-inc-and-owners-dean-tucci-and-kenneth-wayne-halverson/

Consumer Financial Protection Bureau Announces Settlement with Debt Collector for Credit Reporting Violation

On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).

On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-announces-settlement-debt-collector-credit-reporting-violation/

Consumer Financial Protection Bureau Issues No Action Letter to Facilitate Consumer Access to Small-Dollar Loans

The Consumer Financial Protection Bureau granted a no-action letter to Bank of America, N.A. regarding certain small-dollar credit products.

The Consumer Financial Protection Bureau granted a no-action letter to Bank of America, N.A. regarding certain small-dollar credit products.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-issues-no-action-letter-facilitate-consumer-access-small-dollar-loans/