On April 2, 2024, a putative class action was brought against a wholesale mortgage lender alleging, among other claims, violations of Section 8(a) of the Real Estate Settlement Procedures Act (RESPA).
Unlike conventional mortgage providers that analyze the borrower’s creditworthiness and then provide the mortgage, wholesale mortgage lenders receive mortgage applications from third-party mortgage brokers

On May 31, 2024, the CFPB announced that it had filed suit against a Pennsylvania-based student loan servicer for engaging in allegedly unfair, deceptive and abusive acts or practices in violation of the CFPA, 12 U.S.C. §§ 5531, 5536(a)(1)(B), and for failing to establish reasonable credit reporting procedures in violation of Regulation V, 12 C.F.R. §§ 1022.40-43,

​On May 22, 2024,​ the Massachusetts Attorney General (MA AG) announced it entered into an Assurance of Discontinuance (AOD) with a California-based financing company resolving allegations of violations of the Massachusetts Consumer Protection Act.​
The MA AG alleged that the company engaged in a “rent-a-bank” scheme, whereby the company partnered with an out-of-state bank in an attempt

On May 20, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based telemarketer that offered student loan debt relief services resolving allegations that the company charged illegal advance fees and misled student loan borrowers.  This telemarketer allegedly claimed to be affiliated with the Department of Education and

In April 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Commissioner for Justice and Consumer Protection of the European Commission (European Commission) announced that three meetings had been convened with senior staff and subject matter experts to discuss “shared priority areas” of concern for consumer financial protection issues.  The CFPB and the

On May 6, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint ​and two proposed stipulated final judgments to resolve its claims against the National Collegiate Student Loan Trusts (the Trusts) and the Pennsylvania Higher Education Assistance Agency​ d/b/a American Education Services (PHEAA). The CFPB alleges that the Trusts and