Blog

The Federal Trade Commission (FTC) filed three separate lawsuits in federal court recently to halt the deceptive tactics of companies preying on distressed homeowners by falsely claiming they could save their homes from foreclosure. Instead, the fraudsters charged homeowners thousands of dollars in up-front fees while delivering little or no […]

United States prosecutors recently filed suit against Wells Fargo, claiming the lender misrepresented the quality of the mortgages it handled under a federal housing program. In the case filed in federal court in New York, Wells Fargo, the country’s largest originator of home loans, prosecutors alleged that the bank defrauded […]

The United States Supreme Court heard arguments in two cases in which the defendants seek to expand the class action limits of last year’s Wal-Mart v. Dukes case. On November 5, 2012, the Supreme Court heard arguments in Comcast Corp. v. Behrend and Amgen, Inc. v. Conn. Ret. Plans & […]

The Consumer Financial Protection Bureau (CFPB) announced a new rule that will allow the agency to oversee consumer debt collectors for the first time at the federal level. Read the CFPB’s press release and information about the agency’s oversight of debt collectors can be accessed via CFPB’s website (www.consumerfinance.gov). Beginning […]

Concerns have been raised about large banks beginning to make short-term loans similar to those found in the oft-criticized and problem-plagued payday lending arena. Banks have faced lower revenue as a result of limits on debit card and overdraft fees. Those lenders are now offering high-cost loans that are meant […]

Debt collection agencies will come under federal review for the first time beginning January 2, 2013, when the Consumer Financial Protection Bureau (CFPB) begins oversight. The agency’s authority to oversee debt collection agencies comes under the portion of the Dodd-Frank regulatory law that deals with nonbank financial companies. CFPB will […]

The Federal Trade Commission (FTC) reached a settlement with defendants in the United States who abetted unlawful debt collection calls from India. A California man who worked with bogus debt collectors in India has agreed to settle FTC charges that he and his companies deceived and threatened consumers into paying […]

In recent studies, it has been reported that the credit reports on which lenders rely in making decisions about consumers’ credit worthiness often contain errors. The end result can be increased borrowing costs for consumers. Past studies of the accuracy of credit reports found that between 30 percent and 80 […]

Boehringer Ingelheim Pharmaceuticals, Inc. has agreed to pay $95 million to settle a False Claims Act case in which it was alleged that the drug company improperly marketed drugs and caused false claims to be submitted to government healthcare programs. The drugs at issue are Aggrenox, a medication used to […]

The Consumer Financial Protection Bureau (CFPB) announced that it is accepting consumer complaints about credit reporting, providing consumers individual-level complaint assistance for the first time at the federal level. To file a credit reporting complaint, consumers can file online at www.consumerfinance.gov/complaint. Consumers can also lodge a complaint by phone at […]