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Tuesday, July 15, 2014

CFPB Files Suit Against Debt Collection Law Firm

The CFPB filed a lawsuit in a federal district court against a Georgia-based law firm and its three principal partners for operating a debt collection lawsuit mill for using illegal tactics to intimidate consumers into paying debts they may not owe. The CFPB alleges that the firm churns out hundreds of thousands of lawsuits that frequently rely on deceptive court filings and faulty or unsubstantiated evidence. Also, the CFPB alleges that the firm violated the Dodd-Frank Act, which prohibits deceptive acts or practices in the consumer financial marketplace. The CFPB is seeking compensation for victims, a civil fine and an injunction against the company and its partners.

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