Latest Enforcement Tracker.CFPB v. Think Finance, LLC
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The CFPB sued Think Finance, LLC for “вЂdeceiving customers into repaying loans that have been advance payday loans online Vermont maybe not legitimately owed.’” The CFPB alleged that Think Finance illegally obtained “on loans which are void under state regulations interest that is governing caps or even the certification of lenders.” Think Finance later filed for bankruptcy. On November 15, 2017, the CFPB sued…
CFPB – Zero Parallel, LLC
In September 2017, the CFPB “imposed a $100,000 fine on California company Zero Parallel LLC” for “steering borrowers into illegal and bad debts.” Zero Parallel, a “lead aggregator” that “identifies prospective borrowers after which sells their information,” offered loan that is short-term to loan providers it knew failed to follow states’ usury legislation, interest-rate limitations and prohibitions…