The bureau has accused South Carolina-based Heights Finance of targeting borrowers for their likelihood to refinance and using coercive practices to drive them into fee-laden refinancing cycles.
The firms, which include Lexington Law and CreditRepair.com, were accused of misrepresenting to consumers that an upfront fee was necessary to begin the credit repair process.
A New York court has rejected a motion to dismiss a CFPB lawsuit against a group of debt buyers for violations of the Consumer Financial Protection Act and the Fair Debt Collection Practices Act.
The settlement resolves charges that Freedom Mortgage provided real estate agents with cash payments, paid subscription services and catered parties in exchange for referrals.
A New York state court has stayed proceedings in an enforcement action brought by the CFPB against a subprime indirect auto finance firm, pending the Supreme Court’s decision in the bureau’s funding case.
The CFPB has accused USASF Servicing of illegally disabling consumers’ vehicles, failure to refund premiums, double-billing and incorrect repossessions.
CFPB won’t appeal Ocwen judgment; former CFPB senior counsel launches law firm; new appraisal standards will be available in print as well as digital format.
The consent orders related to Bank of America’s practice of charging repeat nonsufficient funds fees, denying rewards to credit card consumers and opening unauthorized credit card accounts.
Recent CFPB guidance on the prohibition of abusive practices could pose risks to real estate agents engaging in joint ventures with lenders and title companies, according to attorneys at McGuire Woods.
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