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

Two autodealers, Jim Burke Nissan and Ross Nissan, have been dealt a consent order for deceptively advertising the sale, financing and leasing of their vehicles. [6/1/15]

Bank of America engaged in improper debt-collection against military members and must pay a $30 million civil money penalty and provide remediation to 73,000 military customers. [6/1/15]

A consolidated class action suit involving 37 credit unions, 16 state leagues, CUNA and 11 banks has been filed in federal court in Atlanta, Georgia against Home Depot for its massive data breach that affected 56 million consumers, cost billions in fraud losses and more than $150 million is card reissue expenses. The lawsuit also alleges that Home Depot’s data security measures are still inadequate, a claim that Home Depot adamantly denies. [5/29/15]

The FTC shuts down three debt collection operations for such practices as sending texts that read "YOUR PAYMENT DECLINED WITH CARD ****-****-****-5463... CALL IMMEDIATELY..." without identifying themselves as debt collectors. They would also claim a "uniformed officer" was on the way to the consumer's home and they should "secure any large animals or firearms" before the officer arrived. "Legitimate debt collectors know the rules." [5/22/15]

The FRB imposed more than $1.8 billion in fines against six major banking organizations for unsafe and unsound practices in the foreign exchange markets. In addition to the fines, UBS AG, Barclays Bank PLC, Citigroup Inc., JPMorgan Chase & Co., Royal Bank of Scotland PLC, and the Bank of America Corporation are also receiving cease and desist orders requiring improvements in oversight and controls over activities in the foreign exchange market. [5/21/15]

A U.S. District judge dismissed a lawsuit by the National Credit Union Association against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities. [5/20/15]

The CFPB has filed a complaint against PayPal for a slew of deceptive actions ranging from misleading advertisements to mishandled billing disputes. The proposed penalty cost? $25 million. [5/20/15]

CFPB goes after PayPal for acts it deems "deceptive" and "abusive." PayPal will pay $15 million to consumers and a $10 million penalty. [5/20/15]

In 2012 American Credit Crunchers LLC was charged with deceptive payday loans. Checks are going out today to those who were harmed by this company and its shenanigans. [5/18/15]

Credit unions now have until May 27^th to join a class action suit against Home Depot for recovery of costs related to the massive data breach in September 2014. CUNA noted that Home Depot continues to use inferior systems and procedures that could expose consumers to future risk. [5/15/15]