- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-11-20T18:53:00
The auto-financing arm of carmaker Toyota agreed to pay $60 million as part of a settlement with the Consumer Financial Protection Bureau (CFPB) addressing allegations of illegal lending and credit reporting misconduct.
Toyota Motor Credit Corp. was fined $12 million and must pay nearly $48 million in consumer redress, the CFPB announced in a press release Monday.
Toyota Motor Credit was accused of making it unreasonably difficult for consumers to cancel unwanted add-ons, failing to ensure consumers received refunds for certain add-ons that had become void, failing to provide refunds to consumers who canceled their vehicle service agreements, and not timely correcting false information provided to consumer reporting agencies when consumers returned their leased vehicles, according to the CFPB’s order.
2024-07-09T20:04:00Z By Aaron Nicodemus
Ohio-based Fifth Third Bank will pay $20 million in penalties to the Consumer Financial Protection Bureau for allegedly opening fake bank accounts and wrongfully repossessing customers’ vehicles.
2024-05-16T20:03:00Z By Aaron Nicodemus
The Supreme Court rejected a claim that the Consumer Financial Protection Bureau’s funding mechanism is unconstitutional, removing a legal challenge that had the potential to overturn all the agency’s regulations and enforcement actions.
2023-12-08T14:09:00Z By Kyle Brasseur
Atlantic Union Bank agreed to pay $6.2 million as part of a settlement with the Consumer Financial Protection Bureau resolving allegations the bank illegally enrolled and misled customers in its checking account overdraft programs.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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