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.
James Brody, a senior litigation partner at Garris Horn, provided strategies lenders could use to avoid repurchase demands, which included negotiating contract terms, diversifying their investor deck and outsourcing underwriting.
The FCC proposal would allow consumers who have provided prior express consent to receive autodialed or prerecorded voice calls to revoke consent through any reasonable means.