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Latest Enforcement Tracker.CFPB v. Think Finance, LLC

Latest Enforcement Tracker.CFPB v. Think Finance, LLC

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The CFPB sued Think Finance, LLC for “‘deceiving 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…

CFPB v. Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Hill Summit Financial, Inc., and Majestic Lake Financial, Inc.

In April 2017, the CFPB sued “Golden Valley Lending, Silver Cloud Financial, Mountain Summit Financial and Majestic Lake Financial,” that are owned because of the “Habematolel Pomo Tribe” in Northern California, for allegations which they “illegally took funds from consumers’ bank accounts for debts that weren’t valid because loans violated state laws and regulations. [The CFPB] claims the…

CFPB v. CashCall, Inc., WS Funding, LLC, Delbert Services Corporation, J. Paul Reddam

In December 2013, the CFPB sued CashCall and its particular subsidiaries for “engaging in ‘unfair, misleading, and abusive techniques,’ including illegally debiting debtor records for loans that have been, in fact, void and violating ‘federal legislation by wanting to gather on loans which were totally void or partially nullified.’” At the time of February 2017, the way it is ended up being ongoing;…

CFPB – Cash America Global

In November 2013, the CFPB issued a permission order to money America International, “one regarding the countrys largest payday lenders,” for engaging in deceiving debt-collection techniques, such as “robo-signing.” The CFPB determined that the ongoing business told workers to “stamp a lawyer’s signature on court papers utilized to sue customers for past-due debts, a practice which…

CFPB – ACE Cash Express

In 2014, the customer Financial Protection Bureau reached money with ACE Cash Express which required the Texas-based payday loan provider to pay for a $5 million penalty and $5 million in refunds over fees the organization utilized unlawful commercial collection agency techniques to pressure borrowers into taking out fully extra payday loans.” “The customer Financial Protection Bureau announced…

CFPB v. Hydra Group

The CFPB sued payday loan provider Hydra Group and lots of of their professionals for allegedly making use of “information purchased from online lead generators to get into consumers’ checking accounts to illegally deposit pay day loans and withdraw fees without consent.” Hydra Group issued “$97 million in pay day loans and gathered $115 million from customers in return.” Also, Hydra Group…

CFPB – NDG Financial

In 2015, the CFPB filed case against NDG Financial, Northway Financial and Northway Broker for “illegally gathering loan amounts and charges which were void or that customers had no responsibilities to settle.” The firms allegedly falsely threatened borrowers with “lawsuits and jail.” The regulators are trying to find a restitution and penalty for victimized consumers. The…

CFPB v. T3Leads

In 2015, the CFPB sued T3Leads, “a consumer information aggregator,” in addition to its “chief officers” Grigor and Marina Demirchyan, for presumably failing continually to “properly vet lead purchasers.” Defendants just in case 2:15-cv-9692, filed within the U.S. District Court Central District of California Western Division, included “D and D advertising, conducting business as_T3Leads,” as well as…

CFPB – EZCorp Inc.

In 2015, the CFPB fined “payday and pawn lender EZCorp Inc.” $10.5 million for “alleged illegal business collection agencies tactics,” including aggressive tries to gather payment in the borrower’s house and workplace and lying about consumers’ legal rights. EZCorp can be an “Austin, Tex.-based lender.” Ahead of this situation, EZCorp did company under many different different names,…

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