Showing the most recent
CFPB v. Cash Advance Debt Solution
In December 2012, the CFPB, using the states of Hawaii, brand brand brand New Mexico, cashland new york, North Dakota and Wisconsin, sued the Payday Loan Debt Solution company for “violating state and debt that is federal legislation” by not providing credit card debt relief solutions to clients whom paid costs. Payday Loan Debt Solution ended up being bought to refund $100,000 to clients…
CFPB v. National Legal Help Center; CFPB v. potential Edward Gordon d/b/a Gordon & Associates , Abraham Michael Pessar et al.
In 2012, the CFPB sued the nationwide Legal Help Center and potential Gordon and their law practice, Gordon & Associates, for “loan modification frauds” that allegedly charged home owners to cut back their mortgage repayments with “little, if any, significant help to change home owners’ home mortgages or counter property property foreclosure,” that will be a “violation of federal law.”
CFPB – Discover Bank
In September 2012, the CFPB and FDIC issued a permission order to find out Bank for misleading and pressuring clients into buying add-on items. Discover had been bought to refund $200 million to around 3.5 million clients for presumably customers that are enrolling programs “without their permission, misled them in regards to the benefits and left clients thinking these products.
CFPB v. Meracord LLC, Linda Remsberg
In October 2013, the CFPB sued Meracord, a repayment processing business, for assisting “debt-relief companies enforce unlawful upfront fees.” Federal legislation forbids debt-relief organizations from getting re payments before settling any debts, nevertheless the CFPB unearthed that Meracord presumably “processed at the least $11 million in illegal costs” from “more than 11,000 customers in the united states.”
CFPB – JPMorgan Chase Bank and Chase Bank United States Of America
In September 2013, the CFPB, in coordination utilizing the workplace for the Comptroller associated with Currency (OCC), given a consent order to JPMorgan Chase for “deceiving an incredible number of clients into purchasing expensive and unneeded solutions whenever they enrolled in charge cards.” JPMorgan Chase had been bought to refund $309 million to around 2.1 million clients.
CFPB v. Morgan Drexen, Inc. and Walter Ledda
In August 2013, the CFPB sued Morgan Drexen and its particular president, Walter Ledda, for presumably recharging upfront “illegal charges” to “more than 22,000 clients” to “help them resolve outstanding debts” as well as presumably making use of “false and deceptive marketing.” Morgan Drexen presumably deceived customers into “signing up for high priced bankruptcy-related solutions by telling them they might.
CFPB v. Castle & Cooke Mortgage, LLC., Matthew A. Pineda, and Buck L. Hawkins
In July 2013, the CFPB sued Castle & Cooke Mortgage, LLC., and its particular top professionals, Matthew Pineda and Buck Hawkins, for “paying unlawful bonuses to workers whom steered house buyers toward higher-interest loans.” Castle & Cooke Mortgage allegedly ran a “quarterly bonus system that paid $6,100 to $8,700 to loan officers whom persuaded customers.
CFPB – U.S. Bank Nationwide Association; CFPB – Dealers’ Monetary Services, LLC
In June 2013, the CFPB issued a permission order to U.S. Bank National Association and Dealers’ Financial Services for misleading “military solution users who took part in a car financing program.” The CFPB alleged that both businesses “failed to isclose costs associated properly with repaying automotive loans’ designed to service users.” U.S Bank consented to repay.
CFPB – U.S. Bank Nationwide Association; CFPB – Dealers’ Monetary Services, LLC
In June 2013, the CFPB issued a permission order to U.S. Bank nationwide Association and Dealers’ Financial Services for misleading service that is”military who took part in a car financing system.” The CFPB alleged that both organizations “failed to properly reveal expenses linked with repaying automotive loans’ built to service users.” U.S Bank consented to repay.
CFPB – Ally Financial
In 2013, the CFPB, combined with Department of Justice, settled claims against Ally Financial for breaking “fair credit legislation by asking minority borrowers greater markups on automobile financing than white clients.” Ally decided to spend $98 million in restitution, with $80 million likely to customers in damages and another $18 million as a civil.