Seventh Settlement: CFPB Fines Online Payday Lenders $69M
August 20, 2018
The CFPB recently imposed a $69 million judgement against two individuals and a group of payday lending entities controlled by them for cash-grab scams, although most of it will be waived. This is the seventh enforcement action brought by the CFPB so far this year, and also the third involving payday lenders. The U.S. District Court for the Western District of Missouri Western Division recently entered an order effectuating a settlement between the CFPB ...