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CFPB v. Cash Advance Debt Solution
In December 2012, the CFPB, using the states of Hawaii, brand brand New Mexico, new york, North Dakota and Wisconsin, sued the Payday Loan Debt Solution firm for „violating state and federal debt settlement rules“ by not supplying debt settlement solutions to clients whom paid charges. Payday Loan Debt Solution had been bought to refund $100,000 to customers…
CFPB v. National Legal Help Center; CFPB v. potential payday loans Nevada 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 and 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 support to change home owners‘ home loans or counter property foreclosure,“ which can be a „violation of federal legislation.“
CFPB – Discover Bank
In September 2012, the CFPB and FDIC issued a permission order to find out Bank for misleading and pressuring clients into buying add-on services and products. Discover had been 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 the merchandise.
CFPB v. Meracord LLC, Linda Remsberg
A payment processing company, for assisting „debt-relief companies enforce unlawful upfront costs. in October 2013, the CFPB sued Meracord“ Federal legislation forbids debt-relief organizations from getting re re re payments before settling any debts, though the CFPB unearthed that Meracord presumably „processed at the very least $11 million in illegal costs“ 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 aided by the workplace regarding the Comptroller regarding the Currency (OCC), granted 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 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 as well as its president, Walter Ledda, for presumably charging you upfront „illegal costs“ to „more than 22,000 clients“ to „help them resolve outstanding debts“ as well as for presumably utilizing „false and deceptive marketing.“ Morgan Drexen presumably deceived consumers into „signing up for expensive bankruptcy-related solutions by 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., as well as its executives that are top Matthew Pineda and Buck Hawkins, for „paying unlawful bonuses to workers who steered home 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 National Association and Dealers‘ Financial Services for misleading service that is“military whom took part in an automobile financing system.“ The CFPB alleged that both businesses „failed to precisely reveal expenses associated with repaying automobile financing‘ designed to service users.“ U.S Bank consented to repay.
CFPB – U.S. Bank National 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 program.“ The CFPB alleged that both organizations „failed to isclose costs associated properly with repaying automobile financing‘ meant to service users.“ U.S Bank consented to repay.
CFPB – Ally Financial
In 2013, the CFPB, combined with Department of Justice, settled claims against Ally Financial for breaking „fair credit legislation by recharging minority borrowers higher markups on automotive loans 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.
