Links in “Fines, Penalties, Suits, and Settlements”

CFPB took action against Residential Credit Solutions, Inc. for blocking consumers' attempts to save their homes from foreclosure. The mortgage servicer failed to honor modifications for loans transferred from other servicers, treated consumers as if they were in default when they weren't, sent consumers escrow statements falsely claiming they were due a refund, and forced consumers to waive their rights in order to get a repayment plan. [7/31/15]

Paymap Inc and LoanCare, LLC will be paying a combined amount of $38.5 million for deceptive advertisements. These advertisements were found deceptive for making false claims regarding savings and payments. [7/29/15]

FinCEN has passed a final rule which implements the fifth special measure against FBME Bank, a Middle Eastern bank which was cited as a money laundering concern back in July of 2014. [7/29/15]

The companies are alleged to have typically charged customers a $295 enrollment fee and a $2.50 transaction fee after telling borrowers they could lower their interest by making biweekly mortgage payments, but instead held the payments until they were due within the typical monthly period. The companies must pay more than $38 million in charges. [7/29/15]

Two Florida men have been arrested for running a sham company and controlling a small, low-income New Jersey credit union in order to operate an unlicensed Bitcoin exchange. According to New York federal prosecutors, the scheme was designed to launder money for criminals. [7/23/15]

The CFPB has taken action against Discover Bank for illegal private student loan servicing practices. The bank must pay a $2.5 million penalty and refund $16 million to affected consumers. [7/23/15]

A former U.S. Marine has allegedly stolen $138,789 from Navy Federal Credit Union accounts belonging to his fellow marines. He was charged with five counts of bank fraud, four counts of fraudulent claims, and one count of fraud with identification documents. [7/21/15]

A law firm has filed a Freedom of Information Act (FOIA) lawsuit against the CFPB seeking information relating to the CFPB's report on "Consumer Voices on Credit Reports and Scores." The firm states the the information requested is "necessary for the public to verify the quality of the study's methodology." [7/21/15]

Morgan Drexen, a debt settlement company, has gone out of business after being sued by the CFPB in 2013 and filing for bankruptcy in 2015. If you’re a customer of Morgan Drexen this article will tell you what your next steps should be. [7/21/15]

The Alabama One saga continues with a lawsuit filed by the president/CEO, claiming he was defamed by a member who allegedly posted false accusations and representations. This member allegedly posted accusations he new to be false, claiming that the CEO "engage[d] in criminal conduct." [7/15/15]