Federal Consumer Protection News: September 2021

Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB) settled with student lender Better Future Forward, Inc., an income share agreement (ISA) provider for mispresenting its product and failing to comply with federal consumer financial law that governs private student loans. Under ISAs, students agree to pay a percentage of their income for a…

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Federal Consumer Protection News: August 2021

Federal Trade Commission Online lender LendingClub Corporation agreed to pay $18 million to settle Federal Trade Commission (FTC) charges that the company deceived consumers about hidden fees that it charged and whether their loan applications were approved. In addition, the settlement bars LendingClub from making misrepresentations to loan applicants and requires that the company clearly…

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Federal Consumer Protection News: July 2021

NEW! We are now providing a digest of consumer protection-related press releases from state and territorial attorneys general and a selection of federal consumer-related releases on ConsumerResources.org, NAAG’s consumer-facing website. Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB or Bureau) warned landlords and consumer reporting agencies to report rental information accurately as the federal eviction moratorium ends…

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Federal Consumer Protection News: June 2021

Consumer Financial Protection Bureau The CFPB issued rules designed to prevent avoidable foreclosures as homeowners exit COVID-19 hardship forbearances. The federal eviction moratorium ends June 30, 2021. The new rules go into effect August 31, 2021 and require servicers to meet temporary procedural safeguards before referring 120-day delinquent accounts for foreclosure. According to the Bureau,…

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Federal Consumer Protection News and Other Items of Interest: April 2021

The US Supreme Court ruled against the FTC in AMG Capital Management LLC v. FTC, holding that Section 13(b) of the FTC Act does not permit the FTC to seek and does not allow courts to award “equitable monetary relief such as restitution or disgorgement.” FTC Acting Chairwoman Rebecca Kelly Slaughter issued a statement criticizing…

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Attorney General Consumer Protection News: March 2021

Multistate Actions Led by California Department of Justice and the Washington Attorney General Bob Ferguson, 48 attorneys general announced a $186 million multistate settlement with surgical mesh manufacturer Boston Scientific Corporation to resolve deceptive marketing allegations. A bipartisan group of 24 attorneys general expressed disappointment in the Purdue Pharma restructuring plan submitted in bankruptcy court. …

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NAAG Urges U.S. Department of Veterans Affairs to Reevaluate Changes to Claims Processing Policy

We urge the VA to postpone any change to this long-standing policy until the VA, VSOs and veterans can have more thorough discussions regarding the VA’s reasons for the change, the implications it will have on VSOs and veterans, and whether there are alternative solutions that do not call for complete elimination of this critical quality review.

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NAAG Asks Department of Education to Discharge Loans of Disabled Veterans

We write, as the Attorneys General of our jurisdictions, to urge the Department of Education to take prompt action to satisfy its statutory mandate to discharge the student loans of veterans who are permanently and totally disabled or otherwise unemployable. As a nation, we have a moral obligation to assist those who have put their lives on the line to defend us.

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Attorneys General Urge Senate to Support Veterans by Passing the Veteran Treatment Court Coordination Act

We urge the Senate to further support this important court program. H.R. 886 would establish a Veteran Treatment Court Program in the Department of Justice to provide grants and technical assistance to state, local and tribal courts that implement Veterans Treatment Courts. As Attorneys General, we strongly support this important program in our courts and encourage the continued support of the Congress for our nation’s veterans.

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NAAG Urges U.S. Department of Veterans Affairs to Reevaluate Changes to Claims Processing Policy

Washington, D.C. — The National Association of Attorneys General (NAAG) sent a letter to the U.S. Department of Veterans Affairs (VA) expressing concerns regarding the VA’s decision to rescind its Veteran Service Officer (VSO) 48-hour review policy. The VSO policy served as the last opportunity to identify and correct errors in the claims process before…

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