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The CFPB sued Think Finance, LLC for вЂњвЂdeceiving customers into repaying loans that have been maybe not legitimately owed.вЂ™вЂќ The CFPB alleged that Think Finance illegally obtained вЂњon loans which are void under state regulations interest that is governing caps or even the certification of lenders.вЂќ Think Finance later filed for bankruptcy. On November 15, 2017, the CFPB suedвЂ¦
CFPB вЂ“ Zero Parallel, LLC
In September 2017, the CFPB вЂњimposed a $100,000 fine on California company Zero Parallel LLCвЂќ for вЂњsteering borrowers into illegal and bad debts.вЂќ Zero Parallel, a вЂњlead aggregatorвЂќ that вЂњidentifies prospective borrowers after which sells their information,вЂќ offered loan that is short-term to loan providers it knew failed to follow statesвЂ™ usury legislation, interest-rate limitations and prohibitionsвЂ¦
CFPB v. Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Hill Summit Financial, Inc., and Majestic Lake Financial, Inc.
In April 2017, the CFPB sued вЂњGolden Valley Lending, Silver Cloud Financial, Mountain Summit Financial and Majestic Lake Financial https://paydayloansmissouri.org/,вЂќ that are owned because of the вЂњHabematolel Pomo TribeвЂќ in Northern California, for allegations which they вЂњillegally took funds from consumersвЂ™ bank accounts for debts that werenвЂ™t valid because loans violated state laws and regulations. [The CFPB] claims theвЂ¦
CFPB v. CashCall, Inc., WS Funding, LLC, Delbert Services Corporation, J. Paul Reddam
In December 2013, the CFPB sued CashCall and its particular subsidiaries for вЂњengaging in вЂunfair, misleading, and abusive techniques,вЂ™ including illegally debiting debtor records for loans that have been, in fact, void and violating вЂfederal legislation by wanting to gather on loans which were totally void or partially nullified.вЂ™вЂќ At the time of February 2017, the way it is ended up being ongoing;вЂ¦