CFPB Takes Enforcement Action Against Loan Officer for Alleged Mortgage Fee Kickback Scheme

CFPB Takes Enforcement Action Against Loan Officer for Alleged Mortgage Fee Kickback Scheme

Yesterday, the Consumer Financial Protection Bureau (CFPB) announced the issuance of a consent decree with a former mortgage loan officer arising out of alleged violations of the Real Estate Settlement Procedures Act’s (RESPA) anti-kickback laws and Dodd-Frank’s prohibition on unfair, deceptive or abusive acts or practices (UDAAP).

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Vermont Federal District Court Rules CFPA Does Not Provide Private Right of Action for Alleged Usurious Loans; Denies Motion to Dismiss EFTA Claim

By | CFPB Monitor | May 24, 2016
Vermont Federal District Court Rules CFPA Does Not Provide Private Right of Action for Alleged Usurious Loans; Denies Motion to Dismiss EFTA Claim

A Vermont federal district court recently issued a decision ruling on the defendants’ motion to dismiss a class action involving allegations that an online tribal lending venture violated federal and state law because of alleged usurious interest rates and other allegedly unlawful features. 

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SCOTUS Decides FDCPA Case

By | CFPB Monitor | May 24, 2016
SCOTUS Decides FDCPA Case

On May 16, 2016, the U.S. Supreme Court unanimously held in Sheriff v. Gillie that an independent contractor to the Ohio Attorney General (OAG) did not mislead consumers in violation of the Fair Debt Collection Practices Act (FDCPA) when it used the OAG’s letterhead in correspondence with consumers in collecting debts owed to the State of Ohio. 

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