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Add-On Products Continue To Present Litigation Risks For Lenders

Add-On Products  •  Auto Finance  •  CFPB  •  Credit Cards  •  FDIC  •  FTC  •  Litigation  •  OCC  •  State AGs
The Consumer Financial Protection Bureau’s recent action against two credit card vendors regarding credit monitoring and identity theft protection services is a reminder of the legal risks associated with certain add-on products. The July 1 […]

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Mortgage Servicer Agrees to Pay More Than $60 million for Alleged “Abusive” Collection Practices

CFPB  •  Debt Collection  •  Default Servicing  •  Enforcement  •  Enforcement Actions  •  FTC
The mortgage servicing industry remains under scrutiny, as evidenced by the recent joint enforcement action against Green Tree Servicing, LLC by the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC).   In a […]

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Is Knowing Enough? The FTC’s Concerns Regarding Mobile Banking Practices May Force You to Do …

CFPB  •  FCRA  •  FTC  •  Mobile Banking  •  Privacy/Data Security
On September 10, 2014, the Federal Trade Commission (FTC) posted a comment in response to the Consumer Financial Protection Bureau’s (CFPB) request for information regarding the use of mobile banking services and products specifically utilized […]

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FTC Settles with Auto Lender over Improper Servicing, Collection, and Quality Control Practices

Auto Finance  •  Consumer Reporting  •  Debt Collection  •  FCRA  •  FTC
The Federal Trade Commission (FTC) recently announced a $5.5 million monetary and injunctive settlement with auto lender Consumer Portfolio Services, Inc. (CPS) concerning allegations that the company used illegal tactics in servicing and collecting consumers’ […]

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