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 New Mexico, new york, North Dakota and Wisconsin, sued the Payday Loan Debt Solution company for “violating state and federal credit card debt relief guidelines” by not supplying credit card debt relief solutions to clients whom paid costs. Payday Loan Debt Solution had been 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 National Legal Help Center and Chance Gordon and their law practice, Gordon & Associates, for “loan modification frauds” that allegedly charged home owners to lessen their mortgage repayments with “little, if any, significant help to change property owners’ home loans or counter property property foreclosure,” which can be a “violation of federal legislation.”

CFPB – Discover Bank

In September 2012, the CFPB and FDIC issued a consent order to realize Bank for misleading and pressuring clients into buying add-on items. Discover had been bought to refund $200 million to around 3.5 million customers 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 https://mycashcentral.com/, a repayment processing business, for assisting “debt-relief companies enforce unlawful upfront fees.” Federal legislation forbids debt-relief businesses from getting re re re payments before settling any debts, but the CFPB discovered that Meracord presumably “processed at the very 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 using the workplace of this Comptroller regarding the Currency (OCC), released a consent order to JPMorgan Chase for “deceiving scores of clients into purchasing expensive and unneeded solutions whenever they enrolled in charge cards.” JPMorgan Chase ended up being purchased 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 particular president, Walter Ledda, for presumably recharging upfront “illegal costs” to “more than 22,000 customers” to “help them resolve outstanding debts” as well as for presumably utilizing “false and deceptive marketing.” Morgan Drexen presumably deceived customers into “signing up for expensive bankruptcy-related solutions by telling them they’d.

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 own top executives, 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’ Financial Services, LLC

In June 2013, the CFPB issued a permission order to U.S. Bank nationwide Association and Dealers’ Financial Services for misleading “military solution people whom took part in a car financing system.” The CFPB alleged that both businesses “failed to precisely reveal expenses connected 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 “military solution users whom took part in a car lending program.” The CFPB alleged that both organizations “failed to precisely reveal expenses connected with repaying automotive loans’ meant to service users.” U.S Bank consented to repay.

CFPB – Ally Financial

In 2013, the CFPB, combined with the Department of Justice, settled claims against Ally Financial for breaking “fair credit rules by recharging minority borrowers greater markups on automotive loans than white clients.” Ally decided to spend $98 million in restitution, with $80 million likely to customers in damages and another $18 million as a civil.