On November 14, 2024, the CFPB took action against Global Tel Link (GTL) for illegally taking millions of dollars from over 500,000 accounts and blocking money transfers to incarcerated consumers, who depend on the funds for essentials like food, medicine, and clothing. The CFPB ordered GTL and its subsidiaries to stop their illegal practices, pay at least $2 million in redress to victims, and pay a $1 million penalty to the CFPB’s victims relief fund.

On September 13, 2024, the CFPB sued Horizon Card Services and its CEO Robert Kane for tricking consumers into signing up for its expensive membership credit card. The CFPB alleges Horizon and Kane attracted consumers to the membership program through deceptive marketing tactics. 

On June 4, 2024, the CFPB issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. The CFPB warns they will take action against companies and individuals that deceptively slip coercive contract clauses that censor and restrict individual freedoms and rights into their fine print.

On April 24, 2024, the CFPB issued its Supervisory Highlights Spring 2024 edition which covered select examinations regarding mortgage servicing that were completed from April 1, 2023 through December 31, 2023. Examiners found that mortgage servicers engaged in UDAAPs and regulatory violations while processing payments by overcharging certain fees, failing to adequately describe fees in periodic statements, and not making timely escrow account disbursements.

On November 20, 2023, the CFPB ordered Toyota Motor Credit Corporation to pay $60 million in consumer redress and penalties for operating an illegal scheme to prevent borrowers from cancelling product bundles that increased their monthly car loan payments. The CFPB alleges that the company withheld refunds or refunded incorrect amounts on the bundled products and knowingly tarnished consumers’ credit reports with false information.