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Latest Enforcement Tracker, Cash Advance Debt Solution

Latest Enforcement Tracker, Cash Advance Debt Solution

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CFPB v. Cash Advance Debt Solution

In December 2012, the CFPB, aided by the states of Hawaii, brand brand brand brand New Mexico, vermont, North Dakota and Wisconsin, sued the Payday Loan Debt Solution company for «violating state and federal debt settlement guidelines» by not supplying credit card debt relief solutions to clients who paid charges. 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 potential Gordon along with his law practice, Gordon & Associates, for «loan modification frauds» that allegedly charged home owners to cut back their home loan repayments with «little, if any, significant help to change home owners’ home loans or counter property property foreclosure,» that will be a «violation of federal legislation.»

CFPB – Discover Bank

In September 2012, the CFPB and FDIC issued a permission order to see Bank for misleading and pressuring clients into purchasing add-on items. Discover ended up being purchased to refund $200 million to about 3.5 million clients for presumably customers that are enrolling 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 re re payments before settling any debts, nevertheless the CFPB discovered that Meracord allegedly «processed at the least $11 million in illegal charges» from «more than 11,000 customers around the world.»

CFPB – JPMorgan Chase Bank and Chase Bank United States Of America

In September 2013, the CFPB, in coordination utilizing the Office regarding the Comptroller associated with Currency (OCC), given a consent order to JPMorgan Chase for «deceiving scores of clients into purchasing expensive and services that are unneeded they subscribed to charge cards.» JPMorgan Chase had been bought to refund $309 million to about 2.1 million clients.

CFPB v. Morgan Drexen, Inc. and Walter Ledda

In August 2013, the CFPB sued Morgan Drexen and its own president, Walter Ledda, for presumably asking upfront «illegal costs» to titlemax «more than 22,000 customers» to «help them resolve outstanding debts» as well as for presumably making use of «false and deceptive advertising.» Morgan Drexen presumably deceived customers into «signing up for high priced services that are bankruptcy-related telling them they might.

CFPB v. Castle & Cooke Mortgage, LLC., Matthew A. Pineda, and Buck L. Hawkins

In July 2013, the CFPB sued Castle & Cooke Mortgage, LLC., and its particular top professionals, Matthew Pineda and Buck Hawkins, for «paying unlawful bonuses to workers whom steered house purchasers toward higher-interest loans.» Castle & Cooke Mortgage allegedly went a «quarterly bonus system that paid $6,100 to $8,700 to loan officers whom persuaded customers.

CFPB – U.S. Bank Nationwide Association; CFPB – Dealers’ Monetary Services, LLC

In June 2013, the CFPB issued a permission order to U.S. Bank nationwide Association and Dealers’ Financial Services for misleading service that is»military whom took part in an automobile financing system.» The CFPB alleged that both organizations «failed to isclose costs associated properly with repaying automotive loans’ meant to service users.» U.S Bank decided to repay.

CFPB – U.S. Bank Nationwide Association; CFPB – Dealers’ Monetary Services, LLC

In June 2013, the CFPB issued a permission order to U.S. Bank nationwide Association and Dealers’ Financial Services for misleading service that is»military whom took part in a car financing system.» The CFPB alleged that both organizations «failed to isclose costs associated properly with repaying automotive loans’ built to service users.» U.S Bank decided to repay.

CFPB – Ally Financial

In 2013, the CFPB, combined with the Department of Justice, settled claims against Ally Financial for breaking «fair credit guidelines by charging you minority borrowers greater markups on automobile financing than white clients.» Ally decided to spend $98 million in restitution, with $80 million planning to customers in damages and another $18 million as a civil.

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