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.,

Lender 225

Lender Collections 225

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.

Lender 235

Lender 235

Account Recovery

JANUARY 5, 2023

The Consumer Financial Protection Bureau and the Attorney General of New York yesterday filed a lawsuit against an auto lender, accusing it of tricking consumers into high-cost loans on used cars that resulted in unaffordable monthly payments, vehicles being repossessed, and customers facing debt collection lawsuits.

Lender 243

Lender Repossession Collections Loans 243

Account Recovery

JULY 27, 2022

A copy of … The post Lender to Pay $19M for ‘Widespread’ Credit Reporting ‘Failures’ appeared first on AccountsRecovery.net.

Lender 242

Lender 242

Account Recovery

SEPTEMBER 13, 2021

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

Lender 244

Lender Collections 244

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.

Lender 246

Lender Collections Loans 246

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.

Lender 246

Lender Loans Creditors 246

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.

Lender 246

Lender 246

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

Lender 245

Lender Trade Loans 245

Account Recovery

JULY 13, 2022

CFPB SUES PAYDAY LENDER FOR HIDING REPAYMENT OPTIONS The Consumer Financial Protection Bureau yesterday filed a lawsuit against Populus Financial Group, which does business as ACE Cash Express, accusing the payday lender of hiding fee repayment plans from borrowers, allegedly inducing those consumers to pay $240 million in reborrowing fees.

Lender 245

Lender 245

Account Recovery

AUGUST 30, 2024

This action comes after the CFPB found that the lender provided misleading cost comparisons to borrowers in North Carolina, Maine, and Minnesota, falsely making its loans appear less expensive than they were. The Consumer Financial Protection Bureau yesterday announced a $2.25

Lender 230

Lender Loans 230

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.

Lender 195

Lender Banks Loans 195

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.

Lender 244

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 Financial services Collections 246

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

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 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.

Lender 246

Lender 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.

Lender 242

Lender Collections 242

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.

Lender 246

Lender Collections Loans 246

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.

Lender 246

Lender Collections 246

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.

Lender 221

Lender Loans Banks 221

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.;

Lender 246

Lender Collections 246

Account Recovery

JANUARY 7, 2025

Additionally, it bars lenders from considering medical information in credit decisions, addressing concerns about the fairness and accuracy of medical debt in credit assessments. The Consumer Financial Protection Bureau this morning announced the release of its final rule prohibiting the inclusion of medical debt on consumer credit reports.

Lender 246

Lender Consumer Credit Loans Healthcare 246

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.

Lender 244

Lender Fair Debt Collection Collections 244

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.

Lender 245

Lender Fair Debt Collection Judgment Collections 245

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.

Lender 189

Lender Trade 189

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.

Lender 173

Lender Collections 173

Account Recovery

SEPTEMBER 16, 2020

CFPB, STATE AGs SETTLE WITH PRIVATE LENDER; $330M OF STUDENT LOANS TO BE … The post Daily Digest – September 16. Site That Helps Consumers Respond to Collection Suits Launches Nationwide; CFPB, State AGs Settle With Lender appeared first on AccountsRecovery.net.

Lender 177

Lender Student loans Student Loans Collections 177

Account Recovery

AUGUST 18, 2023

The Consumer Financial Protection Bureau yesterday announced a mortgage lender was being fined $1.75 million for providing illegal incentives to real estate brokers and agents for referring business to the lender, including cash payments, paid subscription services, and catered parties.

Lender 130

Lender 130

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.

Lender 147

Lender Collections 147

Account Recovery

NOVEMBER 21, 2024

While credit demand remains largely stable, rejection rates across key credit types have surged, signaling potential challenges for both consumers and lenders in the months ahead.

Lender 130

Lender Banks 130

Account Recovery

JULY 29, 2020

Appeals Court Upholds Dismissal of FDCPA Suit Over Reporting of Multiple Debts; Lender Dismisses Collection Lawsuits appeared first on AccountsRecovery.net.

Lender 174

Lender Fair Debt Collection Collections Collection Agencies 174

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.

Lender 130

Lender 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

Consumer Finance

SEPTEMBER 18, 2023

Today, the Consumer Financial Protection Bureau (CFPB) issued guidance about certain legal requirements that lenders must adhere to when using artificial intelligence and other complex models.

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Lender Financial services 135

Account Recovery

JANUARY 10, 2024

The California Department of Financial Protection and Innovation yesterday announced an enforcement action against an online lending platform that failed to disclose the existence of convenience fees to borrowers making payments online or over the phone when the customers entered into the agreement with the lender.

Lender 130

Lender 130

Account Recovery

OCTOBER 11, 2023

The Consumer Financial Protection Bureau yesterday filed a lawsuit against a mortgage lender, accusing it of violating a previous enforcement order to improve the accuracy of the data it submitted to the federal government by sending in data not once, but twice that had mistakes on it.

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Lender Government 130