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Wednesday, August 21, 2013

CFPB Files Lawsuit Against Debt-Relief Company For Deceptive Practices

The CFPB filed a lawsuit in federal district court against a Nevada corporation and its president and CEO for charging illegal upfront fees and deceiving consumers. The company offers debt-relief services to consumers. The CFPB alleges that the company falsely claims that it does not charge consumers upfront fees for debt-relief services and falsely represents to consumers that they will become debt free in months.

The CFPB alleges that the defendants have violated the Telemarketing Sales Rule and the Dodd-Frank Act. The Dodd-Frank Act prohibits deceptive acts or practices in the consumer financial marketplace.

Read more.

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