Category: small dollar loans

CFPB Sues ACE Cash Express for Concealing No-Cost Repayment Plans and Improperly Withdrawing Consumers’ Funds

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit today accusing payday lender ACE Cash Express of concealing free repayment plans from struggling borrowers. Because of ACE’s illegal practices, individual borrowers paid hundreds or thousa…

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit today accusing payday lender ACE Cash Express of concealing free repayment plans from struggling borrowers. Because of ACE’s illegal practices, individual borrowers paid hundreds or thousands of dollars in reborrowing fees, when they were in fact eligible for free repayment plans.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-ace-cash-express-for-concealing-no-cost-repayment-plans-and-improperly-withdrawing-consumers-funds/

Consumer Financial Protection Bureau Issues No Action Letter to Facilitate Consumer Access to Small-Dollar Loans

The Consumer Financial Protection Bureau granted a no-action letter to Bank of America, N.A. regarding certain small-dollar credit products.

The Consumer Financial Protection Bureau granted a no-action letter to Bank of America, N.A. regarding certain small-dollar credit products.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-issues-no-action-letter-facilitate-consumer-access-small-dollar-loans/

Consumer Financial Protection Bureau Issues Final Rule on Small Dollar Lending

The Consumer Financial Protection Bureau today issued a final rule concerning small dollar lending in order to maintain consumer access to credit and competition in the marketplace.

The Consumer Financial Protection Bureau today issued a final rule concerning small dollar lending in order to maintain consumer access to credit and competition in the marketplace.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-final-rule-small-dollar-lending/

Consumer Financial Protection Bureau Files Suit Against Loan Doctor and Edgar Radjabli for Deceptive Acts and Practices in Marketing a Savings CD Account

The Consumer Financial Protection Bureau filed a lawsuit against My Loan Doctor LLC, a Delaware financial-services company operating in West Palm Beach, Florida and New York City and doing business as Loan Doctor, and its founder, Edgar Radjabli.

The Consumer Financial Protection Bureau filed a lawsuit against My Loan Doctor LLC, a Delaware financial-services company operating in West Palm Beach, Florida and New York City and doing business as Loan Doctor, and its founder, Edgar Radjabli.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-files-suit-against-loan-doctor-edgar-radjabli-deceptive-acts-practices/

Consumer Financial Protection Bureau Settles with Short-term Lenders for Engaging in Unfair and Deceptive Acts and Practices

The Consumer Financial Protection Bureau announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries.

The Consumer Financial Protection Bureau announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-settles-short-term-lenders-engaging-unfair-deceptive-acts-practices/

Consumer Financial Protection Bureau, South Carolina, and Arkansas File Suit Against Brokers of High-Interest Credit Offers

The Consumer Financial Protection Bureau (Bureau), the South Carolina Department of Consumer Affairs (South Carolina), and Arkansas Attorney General Leslie Rutledge filed a lawsuit in federal district court in the District of South Carolina against Can…

The Consumer Financial Protection Bureau (Bureau), the South Carolina Department of Consumer Affairs (South Carolina), and Arkansas Attorney General Leslie Rutledge filed a lawsuit in federal district court in the District of South Carolina against Candy Kern-Fuller, Howard Sutter III, and Upstate Law Group LLC. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-south-carolina-arkansas-file-suit-against-brokers-of-high-interest-credit-offers/

Consumer Financial Protection Bureau Settles Lawsuit Against Think Finance Entities

The Consumer Financial Protection Bureau announced a proposed settlement with Think Finance, LLC, formerly known as Think Finance, Inc.

The Consumer Financial Protection Bureau announced a proposed settlement with Think Finance, LLC, formerly known as Think Finance, Inc.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-settles-lawsuit-against-think-finance-entities/

CFPB, Arkansas State AG Settle with Brokers of High-Interest Credit Offers

The Consumer Financial Protection Bureau (Bureau) and the Office of the Arkansas Attorney General today filed a proposed settlement with Andrew Gamber; Voyager Financial Group, LLC; BAIC, Inc.; and SoBell Corp. 

The Consumer Financial Protection Bureau (Bureau) and the Office of the Arkansas Attorney General today filed a proposed settlement with Andrew Gamber; Voyager Financial Group, LLC; BAIC, Inc.; and SoBell Corp. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-arkansas-state-ag-settle-brokers-high-interest-credit-offers/