Search Results: test State AGs

Massachusetts Attorney General Has Now Recovered More Than $12 Million In Connection With Its Subprime Auto Lending Investigation

This time last year, LLW reported on the Department of Justice going after subprime auto lenders, and more recently we have reported on the CFPB’s targeting of subprime auto lenders.  But Massachusetts has also gotten in on the regulatory action.  On March 16, 2016, the Massachusetts Attorney General’s Office (MAG) announced that American Credit…

Read More

Operation Collection Protection Targets Abusive and Deceptive Debt Collectors

Late last year, the Federal Trade Commission (FTC) revealed an ongoing nationwide enforcement initiative targeting debt collectors, called Operation Protection Collection.  The initiative is the first of its kind coordinated crackdown by state and federal enforcers targeting abusive and deceptive debt collection practices.  According to statements by the FTC, the…

Read More

2Q 2015 Sees Increase in Enforcement Litigation

*Editor’s Note:  This post originally appeared on our sister blog, Consumer Finance Enforcement Watch.  Visit CFEW for more real-time reporting on the full range of public federal and state consumer finance enforcement activity.* For the second quarter of 2015, Consumer Finance Enforcement Watch tracked 56 enforcement actions taken against consumer finance providers,…

Read More

The CFPB Targets Lender's Credit Card Division With More Than $200MM In Penalties


The Consumer Financial Protection Bureau (CFPB) has set its sights on debt collection practices again.  In April, we wrote about the CFPB’s $63 million settlement with a mortgage servicer, Green Tree Mortgage, in part for Green Tree’s alleged treatment of mortgage debt.  On July 8, 2015, the CFPB once again demonstrated it was…

Read More

Add-On Products Continue To Present Litigation Risks For Lenders

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 settlement, in which the CFPB found that the vendors misled customers about the benefits of…

Read More

Interagency Guidance: Regulators Will Enforce UDAAP Laws Notwithstanding Repeal of Regulation AA

The Federal Reserve Board recently made headlines when it repealed its Regulation AA to comply with the Dodd-Frank Act, leading some to wonder how, and to what extent, regulation of financial institutions might change going forward. But the federal agencies charged with regulating banking and credit activities have made it clear that they will continue to enforce prohibitions…

Read More