Latest Enforcement Tracker, Cash Advance Debt Solution

December 18, 2020 by  
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Latest Enforcement Tracker, Cash Advance Debt Solution

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CFPB v. Cash Advance Debt Solution

In December 2012, the CFPB, because of the states of Hawaii, brand New Mexico, new york, North Dakota and Wisconsin, sued the Payday Loan Debt Solution firm for “violating state and federal debt settlement guidelines” by not supplying debt settlement solutions to clients whom paid costs. Payday Loan Debt Solution ended up being purchased to refund $100,000 to clients…

CFPB v. National Legal Help Center; CFPB v. potential Edward Gordon d/b/a Gordon & Associates , Abraham Michael Pessar et al.

In 2012, the CFPB sued the nationwide Legal Help Center and Chance Gordon and their law practice, Gordon & Associates, for “loan modification frauds” that allegedly charged home owners to lessen their home loan repayments with “little, if any, significant support to change property owners’ home mortgages or counter property property foreclosure,” which can be a “violation of federal law.”

CFPB – Discover Bank

In September 2012, the CFPB and FDIC issued a permission order to realize Bank for misleading and pressuring customers into buying add-on items. Discover ended up being purchased to refund $200 million to about 3.5 million clients for presumably enrolling clients in programs “without their permission, misled them in regards to the advantages and left clients thinking these products.

CFPB v. Meracord LLC, Linda Remsberg

In October 2013, the CFPB sued Meracord, a repayment processing business, for assisting “debt-relief companies enforce unlawful upfront fees.” Federal legislation forbids debt-relief companies from getting re re payments before settling any debts, but the CFPB discovered that Meracord presumably “processed at the very least $11 million in illegal costs” from “more than 11,000 customers around the world.”

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