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MoFo Reenforcement The Enforcement Blog

Tag Archives: Consumer Financial Protection Act (CFPA)

CFPB Announces Settlement for Violations of the EFTA and CFPA

Posted in CFPB, Regulatory Developments

On January 3, 2019, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a federal savings bank for alleged violations of the Electronic Fund Transfer Act (EFTA) and Regulation E, as well as alleged violations of the Consumer Financial Protection Act of 2010 (CFPA). This is the first CFPB enforcement action under Director Kathy… Read More

Court Finds CFPB Case Against Payment Processor Lacking

Posted in CFPB, Enforcement Actions, UDAAP

On March 17, 2017 the United States District Court for the District of North Dakota granted the motion of Intercept Corporation and its senior executives to dismiss the complaint filed almost a year ago by the CFPB. Intercept is a payment processor that initiates ACH transactions to consumer accounts on behalf of its merchant-customers. This… Read More

CFPB Increasingly Aiming “Abusiveness” Claims at Servicemember Products and Services

Posted in Auto Lending, CFPB, Disparate Impact, Enforcement Actions, Military Issues

Are servicemembers more financially vulnerable than the civilians they protect? Recent enforcement actions suggest that, in the CFPB’s view, they are. While the Servicemembers Civil Relief Act (SCRA) provides more financial protections to servicemembers than civilian consumers have, the Bureau has also begun to use the CFPA to assert “abusive” claims in cases involving alleged… Read More

CFPB Files Proposed Consent Orders Related to Wireless Billing Practices

Posted in CFPB, UDAAP

On May 12, 2015, the Consumer Financial Protection Bureau (CFPB) filed proposed consent orders in federal courts that would settle allegations that two wireless carriers unfairly permitted their customers to be charged by establishing billing and processing systems that enabled third-party merchants to bill consumers for unauthorized purchases. The CFPB initially brought suit in December… Read More

Tough Weeks for Morgan Drexen in CFPB Debt Relief Litigation

Posted in CFPB

It’s been a rough couple of weeks for debt-relief services firm Morgan Drexen.  You may recall our previous post about the CFPB’s action against Morgan Drexen in the Central District of California and the alleged antics that ensued.  By way of quick recap, the case involves alleged violations of the Telemarketing Sales Rule (TSR) and… Read More

Cases We’re Watching: CFPB v. Morgan Drexen

Posted in CFPB

We don’t know about you, but we’ve been following the contentious litigation between the Consumer Financial Protection Bureau (CFPB) and debt-relief services company Morgan Drexen pretty closely. The CFPB filed its lawsuit in August 2013, alleging, among other things, that the company deceived consumers into paying unlawful up-front fees for debt relief services by disguising… Read More