In a recent consent order with a legal collection law firm, the Massachusetts Attorney General imposed significant restrictions on legal collection that go beyond previous CFPB consent orders, which we covered here. We believe that the Massachusetts Attorney General is likely to view at least some of the injunctive provisions in this consent order

Ballard Spahr to conduct webinar on March 24, 2016 entitled “CFPB Regulatory Certainty or Uncertainty? Consent Orders, Informal Guidance, and the New No-Action Letter Policy” Register here

The CFPB has issued a final policy statement on issuing “no-action” letters (NAL) for innovative financial products or services.  The CFPB’s statement that the final policy was

Last December, the CFPB sued a Texas-based company, Union Workers Credit Services, alleging that the company deceived consumers into paying fees to sign up for a “platinum card” that purported to be a general-use credit card but, in actuality, could only be used to buy products from the company. See our prior post discussing the

The CFPB announced the settlement of enforcement actions brought in federal district court in Florida against four national  mortgage insurers involving allegations that the insurers paid kickbacks to mortgage lenders in violation of Section 8 of the Real Estate Settlement Procedures Act.

The alleged kickbacks were paid through captive reinsurance arrangements in which the mortgage