Consumer board settles with auto lender for $1.25 million after allegations of violating consent order
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced April 26 that it has ordered Security National Automotive Acceptance Company (SNAAC), an auto lender specializing in loans to service members, to pay $1.25 million and make good on a previous consent order after the company allegedly violated a CFPB consent order.
NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman announced April 5 that he has joined a coalition of attorneys general in urging Congress to oppose three resolutions that could strike down the Consumer Financial Protection Bureau’s (CFPB) Final Rule regarding prepaid cards.
U.S. Sens. Al Franken, D-Minn., and Patrick Leahy, D-Vt., along with U.S. Rep. Hank Johnson, D-Ga., reintroduced the Arbitration Fairness Act March 7. The legislation, previously introduced in 2011 and 2015, would eliminate forced arbitration clauses in employment, consumer, civil rights and antitrust cases.
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced Feb. 2 that, along with Virginia Attorney General Mark Herring, that it took action against Woodbridge Coins and Jewelry Exchange Inc., doing business as Woodbridge Gold & Pawn, for allegedly deceiving consumers about the actual annual costs of loans.
WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced Feb. 7 that, along with New York Attorney General Eric Schneiderman, it has filed a lawsuit against RD Legal LLC, two related entities and Roni Dersovitz, the companies’ founder and owner, for allegedly scamming 9/11 heroes and NFL concussion victims out of money.