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1st Alliance Lending Faces CFPB Lawsuit Over Mortgage Practices

The Consumer Financial Protection Bureau has announced a lawsuit against Hartford, Conn.-based 1st Alliance Lending and three individuals for allegedly unlawful mortgage-lending practices.

The CFPB’s complaint, filed in Connecticut federal court, claims that 1st Alliance violated the Truth in Lending Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Mortgage Acts and Practices—Advertising Rule and the Consumer Financial Protection Act of 2010.

A 1st Alliance spokesperson has denied the allegations.

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