The Consumer Financial Protection Bureau (CFPB) has reached a settlement with a lender and six subsidiaries accused of working together in an online payday loan scheme to defraud borrowers.
The case, the last lawsuit filed under former CFPB Director Richard Cordray’s direction, alleged the companies illegally collected for loans that were void in 17 states. Read on to learn how much in civil penalties the CFPB ordered the companies to pay.
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