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CFPB Fines Bank of America $10 Million Over Alleged Misconduct Regarding Out-of-State Account Garnishments

The CFPB and Bank of America have reached a settlement to resolve allegations that Bank of America—the nation’s second largest retail bank—illegally processed out-of-state garnishment orders and misled consumers regarding their rights concerning application of those orders, in violation of the Consumer Financial Protection Act of 2010.

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James and the CFPB Sue Moneygram over Consumer Protection and Anti-Fraud Allegations

New York AG Letitia James and the CFPB sued Moneygram International, Inc. and Moneygram Payment Systems, Inc. (collectively “Moneygram”) over alleged violations of consumer protection laws, including the Consumer Financial Protection Act, the Electronic Fund Transfer Act, the Remittance Rule, and New York Executive Law 63(12) prohibiting fraudulent and illegal acts. The complaint alleges that,…

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Ruff Day for Dog Leasing Company in Massachusetts Settlement

Massachusetts AG Maura Healey reached a settlement with California-based Monterey Financial Services, LLC to resolve allegations that the company illegally purchased and serviced leases for dogs to Massachusetts customers in violation of Massachusetts consumer protection laws. According to the AG’s Office, Monterey Financial allegedly purchased and collected on leases for dogs, which is illegal in…

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FTC Fines Warrior Trading for Misleading Day-Trading Customers

The FTC reached a settlement with online day-trading companies Warrior Trading, Inc. and Warrior Operating, Inc., and the company’s owner and operator (collectively “Warrior”) to resolve allegations that Warrior misled customers concerning the profitability, risk, and earnings potential of Warrior’s day-trading strategies and related goods and services, including courses, workshops, programs, and tools.

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