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Friday, May 31, 2013

CFPB Issues Enforcement Action on Claims of Abusive Practices

The CFPB used its power to prohibit "abusive acts or practices" for the first time yesterday, bringing a complaint before the United States District Court for the Southern District of Florida against a Florida debt-relief company. The CFPB alleges the company charged illegal up-front fees and misrepresented their debt-relief service. In addition, the CFPB believed the company engaged in abusive acts or practices by signing up and charging fees to vulnerable consumers who the defendants knew had inadequate incomes to complete the debt-relief programs in which they were enrolled.

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