Consumer Financial Protection Bureau Archives

Former Maryland social media influencer sentenced to 3 years in prison for scheming to obtain over $1.2 million in COVID-19 CARES Act loans

Posted on January 12, 2024 by Chris Montcalmo

GREENBELT, MD—A Maryland man has been sentenced to prison in connection with a scheme to fraudulently obtain more than $1.2 million in federal relief loans. U.S. District Judge Deborah L. Boardman has sentenced Denish Sahadevan, a/k/a “Danny Devan,” 32, of Potomac, to three years in federal prison, followed by three years of supervised release, for wire fraud, aggravated identity theft […]

U.S. Department of Education to forgive $3.9 billion in student debt for former ITT Tech students

Posted on August 18, 2022 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh this week announced that the U.S. Department of Education will forgive or refund $3.9 billion in debt for 208,000 former ITT Technical Institute (ITT Tech) students across the country. The announcement follows the urging of Attorney General Frosh, as part of a multistate coalition, to cancel the federal student loan debt of many […]

Attorney General Frosh joins multistate coalition calling on consumer banks to eliminate overdraft fees

Posted on April 8, 2022 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh this week joined a multistate coalition of attorneys general in calling on the CEOs of JPMorgan Chase, Bank of America, U.S. Bank, and Wells Fargo to eliminate all overdraft fees on consumer bank accounts. In a letter to the financial institutions, Attorney General Frosh urged each bank to eliminate overdraft fees by this […]

Maryland announces settlement with Nationstar Mortgage A.K.A. Mr. Cooper

Posted on December 7, 2020 by Chris Montcalmo

BALTIMORE, MD—The Maryland Department of Labor’s Office of the Commissioner of Financial Regulation on Monday announced that it had concluded a multi-year investigation of one of the nation’s top ten largest mortgage servicing companies, Nationstar Mortgage LLC, which does business as Mr. Cooper. After a nationwide investigation revealed multiple violations of law and procedural deficiencies, Nationstar has cooperated and agreed […]

Attorney General Frosh joins coalition fighting to protect consumer credit during COVID-19 pandemic

Posted on April 28, 2020 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Tuesday joined a coalition of 22 attorneys general warning the nation’s three Consumer Reporting Agencies (CRAs) that, as Americans continue to struggle from the economic fallout of the COVID-19 public health crisis, they will not hesitate to enforce safeguards set in place to ensure consumers’ credit is properly protected and that their […]

Frosh joins bipartisan coalition to ensure student loan servicers follow the law

Posted on September 3, 2019 by Chris Montcalmo

BALTIMORE, MD – Maryland Attorney General Brian E. Frosh last week joined a bipartisan coalition of 32 attorneys general from around the country in defending the state’s ability to enforce consumer protection laws against student loan servicers. In an amicus brief filed in the United States Court of Appeals for the Third Circuit, the attorneys general argue that the case […]

Tag: Consumer Financial Protection Bureau