Debt Relief Compliance Attorney
Felix Shipkevich September 6, 2018
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Bureau of Consumer Financial Protection Releases Latest Supervisory Highlights The Bureau of Consumer Financial Protection (Bureau) today released its 17th edition of Supervisory Highlights. The report covers Bureau supervision activities generally completed between December 2017 and May 2018, and shares observations in the areas of auto loan servicing, credit card account management, debt collection, mortgage […]

Felix Shipkevich August 24, 2018
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This month the Consumer Financial Protection Bureau (CFPB) reached a settlement for online payday loan case with defendants Richard Moseley, Sr. and, Richard Moseley, Jr., owners of Hydra Group and 20 subsidiary companies. In November 2017 Moseley, Sr. was found guilty for conspiracy to collect unlawful debts, to commit wire fraud, identity theft, and “making false disclosures […]

Felix Shipkevich August 10, 2018
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Regulation P To Implement Legislation Amending Gramm-Leach-Bliley Act Changes Will Ease Burden on Financial Institutions and Reduce Risk of Consumer Confusion The Bureau of Consumer Financial Protection (Bureau) today finalized amendments to implement legislation that allows financial institutions that meet certain requirements to be exempt from sending annual privacy notices to their customers. The Gramm-Leach-Bliley […]

Felix Shipkevich July 25, 2018
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IRS imposes monetary penalty and probationary period on tax practitioner and his debt-relief firm for engaging in false and misleading advertising The Internal Revenue Service today announced its Office of Professional Responsibility (OPR) reached a settlement agreement including a monetary penalty with a tax practitioner for violating professional rules of conduct set forth in Circular 230. […]

Felix Shipkevich July 16, 2018
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The Consumer Financial Protection Bureau published a press release on Friday stating National Credit Adjusters (NCA) and it’s former CEO and part owner, Bradley Hochstein, have settled for $3 Million each. The civil money penalties will be suspended if they render $500,000 by the company and $300,000 by Hoschstein. In the consent order the CFPB […]

Felix Shipkevich July 3, 2018
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CFPB Reports Student Loan Repayment and Borrowing The Consumer Financial Protection Bureau (CFPB) publishes an annual report for student loan borrowers complaints. The 2017 Ombudsman was published at the end of last year as directed by the Dodd-Frank Act and Consumer Protectin Act. The report offered insight into the changing practices due to student loan […]

Felix Shipkevich June 26, 2018
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Security Group Settles $5 million with CFPB for Improper Debt Collection “The Bureau of Consumer Financial Protection (Bureau) announced a settlement with Security Group Inc., a South Carolina corporation, and its subsidiaries, Security Finance Corporation of Spartanburg and Professional Financial Services Corp. As described in the consent order, the Bureau found that the Security Group entities […]

Felix Shipkevich May 31, 2018
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Debt Relief Scammers Settle with FTC-Attorneys General Lawsuit Last year the Federal Trade Commission teamed up with state Attorneys General for a national sweep of debt relief schemes titled Operation Game of Loans. A variety of debt relief companies from different states were sued by the FTC for violating laws with complaints filed against them in court. […]

reliefwatch May 10, 2018
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US consumer borrowing up $11.6 billion in March By MARTIN CRUTSINGER, AP ECONOMICS WRITER May. 07, 2018 WASHINGTON — May 7, 2018, 3:12 PM ET Americans increased their borrowing by $11.6 billion in March as a big increase in the category that covers auto and student loans offset the largest monthly drop in credit card […]

Felix Shipkevich April 27, 2018
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Lending Club Ignores Warnings, Charged for Misleading Consumers by FTC The Federal Trade Commission has charged the Lending Club Corporation with falsely promising consumers they would receive a loan with “no hidden fees,” when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans. “This case demonstrates the importance […]