September saw the consumer complaint pendulum keep on swinging. After August’s big month for lawsuits, most were back down in the month-over-month comparisons. FCRA suits were the exception – while FCRA had been the one consistent growth area in consumer litigation over the last couple of years, they’ve tended to swing with the same volatility as the other statutes in recent months. In September, FCRA was once again the one growth area on our chart with a +6.5% increase over August, while FDCPA (-4.8%) and TCPA (-1.9%) were both down.
SACRAMENTO – In a continuation of a yearlong crackdown on unscrupulous debt collectors, the California Department of Financial Protection and Innovation (DFPI) announced today that it has issued enforcement actions against four entities for unlicensed debt collection activity under the Debt Collection Licensing Act (DCLA) and unfair, deceptive, or abusive acts or practices (UDAAP) in violation of the California Consumer Financial Protection Law (CCFPL) and related federal laws and regulations.
As a result of a Federal Trade Commission lawsuit, Jonathan Braun, who controlled small-business funding company RCG Advances, will face a permanent ban from the merchant cash advance and debt collection industries. A federal court issued summary judgment in favor of the FTC in the case along with a permanent injunctionagainst Braun.
U.S. Secretary of Education Miguel Cardona and Federal Student Aid (FSA) Chief Operating Officer Rich Cordray issued the following statements on actions taken by the U.S. Department of Education (Department) after student loan servicer errors were found by the Department.
The CFPB recently entered into a consent order with a nonbank fintech company to resolve claims of EFTA and CFPA violations. As part of the settlement the company will pay nearly $1.5 million in consumer restitution and another $1.5 million in civil penalties.
.jpg)
.jpg)