On January 9, the Consumer Financial Protection Bureau (CFPB) filed a complaint against a number of mortgage companies, student loan debt-relief companies and individuals for unlawful conduct providing debt-relief services to consumers with student loans.
The CFPB, joined by the Minnesota Attorney General’s Office, North Carolina Department of Justice, and the Los Angeles City Attorney, filed a lawsuit in the U.S. District Court for the Central District of California in downtown Los Angeles earlier this month. The suit was filed against two companies and owners and managers of the companies, […]
Online advertising and lead generation play a significant role in connecting consumers with financial products and services. Starting this month, however, the ability of some consumers to learn about debt services will be restricted by Google, according to a recent posting and update to Google’s Advertising Policies for the U.S. Updates to Google’s Financial products […]
New York’s financial regulator said last month that it has launched an investigation into companies offering student loan borrowers debt-relief services, examining whether the companies are engaging in misleading advertising practices and charging improper fees. Subpoenas were issued to eight companies by the New York State Department of Financial Services, companies that reportedly vow to […]
On November 4th, 2019, Shipkevich PLLC will be hosting a Regulatory Workshop in Irvine, California focused on the fundamental regulatory issues facing debt relief professionals and how they can adapt.
Recently, the CFPB targeted a slate of credit repair companies, affiliates were turning to deceptive advertising measures, among other issues.
Connecticut’s recent move so bold: the state Senate recently passed Senate Bill No. 72, a bill which will make student loan debt easier to handle
Maryland’s governor requires unique identifiers within the state for those offering debt settlement services, and a transfer to NMLS reducing fees.
State Farm Bank Failed to Implement Compliance Policies Yesterday the Bureau of Consumer Financial Protection (“Bureau”, formally CFPB) announced in a press release that State Farm Bank settled for Violation of Fair Credit Reporting Act and Consumer Financial Protection Act. State Farm will be subject to a comprehensive compliance plan with record keeping and compliance monitoring. The press release described […]
Attorney General Mark Herring Wins Lawsuit Against Scott Kohn and Debt Relief Companies Targeting Veterans The Attorney General of Virginia filed a lawsuit in March 2018 against companies and their owner Scott Kohn for targeting more than 1,000 veterans and retirees with illegal and high interest loans. Attorney General Mark Herring has won this lawsuit by […]
Affirm has dominated the market when it comes to point of sale finance at a time when consumers are increasingly opting to pay for things over installments; consumers can now finance everything from […]
Monzo users might see their credit scores take a hit due to the digital bank sharing data only with TransUnion and not with Equifax and Experian; Equifax and Experian are the two largest credit […]
In 2016 JPMorgan’s corporate and investment bank user experience team consisted of 20 people, the team has since grown to 130 and is scheduled to reach 160 by end of the year; Debra Herschmann, […]
The central banks of Britain, Japan, the euro zone, Sweden and Switzerland have teamed up with the Bank for International Settlements (BIS) to study use cases for digital currencies; the Facebook […]
Chip Mahan, helped build Live Oak Bank as well as nCino; now Mahan along with Gene Ludwig are creating a $545 million investment fund with Canapi Ventures; banks, financial institutions, the American […]
Digit is a digital bank helps users save money; a new feature within the app will pay cell phone bills automatically; according to Digit’s data 40% of their customers miss paying a bill each […]
For a long time the big players in trade finance have been HSBC, BNP Paribas and Citigroup; in recent years some of the banks have scaled back, leaving room for new investors who are looking for […]
Federal Trade Commission Chairman Joseph J. Simons announced today that Mary K. Engle, currently the Associate Director of the Division of Advertising Practices , will be retiring from the Commission […]
Writing his weekly column in Forbes Ron Shevlin of Cornerstone Advisors talks about a few different points of view when looking closely at Visa’s acquisition of Plaid; while most have heralded […]
The contact us form is a staple of most websites but buy now pay later startup Afterpay never thought it could net them one of their biggest partnerships; the Kardashian family of businesses filled […]
Michael Corbat, CEO of Citigroup was interviewed by Bloomberg at the World Economic Forum; the bank currently spends $8.5 billion per year on technology but doesn’t necessarily see employees […]
The Consumer Financial Protection Bureau (CFPB) today announced an additional member who will serve on the Taskforce on Federal Consumer Financial Law. &nbs […]
CFPB granted a no-action letter to Bank of America, N.A. regarding the bank’s funding arrangements with housing counseling agencies certified by the U.S. Department of Housing and Urban […]
The Consumer Financial Protection Bureau (CFPB) today announced four members who will serve on the Taskforce on Federal Consumer Financial Law. […]
The Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports […]
CFPB and the Office of the Utah Attorney General announced the first joint office hours to be held as part of the American Consumer Financial Innovation Network (ACFIN). […]
The Consumer Financial Protection Bureau issued its Financial Literacy Annual Report for fiscal year 2019. […]
Defendants allegedly violated 2018 final order requiring scientific evidence for disease claims (Feed generated with FetchRSS) […]
Thank you, Attorney General Landry. It is a pleasure to be here with you all today as you meet to discuss so many pressing and important issues. […]
Consumer Financial Protection Bureau Director Kathleen L. Kraninger marks first year. […]