Fifth Third Bank Nailed For Illegal Practices

Company to Pay $18 Million to Minority Auto Borrowers, $3 Million to Credit Card Customers The Consumer Financial Protection Bureau (CFPB) has taken two separate actions against Fifth Third Bank, for discriminatory auto loan pricing and for illegal credit card practices. The joint CFPB and Department of Justice (DOJ) auto-lending enforcement action requires Fifth...

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Feds Sue Lawyers For Illegal Debt-Relief Scheme

Lawsuit Names Individuals Responsible for Bilking $67 million from 21,000 Consumers The Consumer Financial Protection Bureau has obtained a preliminary injunction against World Law Group and its senior leaders for running a debt-relief scheme that charged consumers exorbitant, illegal upfront fees. The Bureau alleges the debt-relief scheme falsely promised consumers a team of attorneys...

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CFPB Takes Action Against the Two Largest Debt Buyers for Using Deceptive Tactics to Collect Bad Debts

Encore and Portfolio Recovery Associates Must Refund Millions of Dollars and Overhaul Debt Collection and Litigation Practices The Consumer Financial Protection Bureau (CFPB) has taken action against the nation’s two largest debt buyers and collectors for using deceptive tactics to collect bad debts. The Bureau found that Encore Capital Group and Portfolio Recovery Associates...

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Officials Take Action Against Pension Advance Firms For Deceiving Customers

Companies Hid Loan Interest Rates and Fees and Deceived Consumers About Other Terms of the Deal The Consumer Financial Protection Bureau (CFPB) and the New York Department of Financial Services (NYDFS) have filed a lawsuit in federal court against two companies, Pension Funding, LLC and Pension Income, LLC, and three of the companies’ individual...

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