On July 29, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) issued a joint letter to auto finance companies, reminding them of the protections the Servicemembers Civil Relief Act (SCRA) affords to servicemembers and their dependents during periods of military service. These protections include several related to auto lending and leasing, which
This week, the Department of Justice (DOJ) resolved Servicemembers Civil Relief Act (SCRA) claims against two affiliated Virginia landlords for allegedly obtaining unlawful court judgments against military tenants. To settle the claims, the landlords agreed to pay restitution to affected servicemembers, a civil penalty to the United States, and various injunctive relief. This action is
The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) highlighted their efforts to aggressively enforce provisions of the Military Lending Act (MLA) in a recently issued press release and testimony before Congress. The FTC — along with 18 states — announced it had brought its first-ever case, alleging violations of the
The Consumer Financial Protection Bureau (CFPB) Office of Servicemember Affairs released its annual report, detailing over 17,000 complaints filed by servicemembers, veterans, and their families in 2021. The largest number of complaints concerned incorrect information on credit reports; closely related to the first complaint was the failure of credit reporting agencies to swiftly and
In a recent post, the Consumer Financial Protection Bureau (CFPB) discussed its ongoing efforts to investigate and curtail alleged abuses of the military allotment system by lenders. The military allotment system is a servicemember benefit dating from the Civil War, which allows servicemembers to automatically pay certain expenses directly from their pay. The importance