Customer Financial Protection Bureau Takes Action Against Payday Lender For Robo-Signing

Customer Financial Protection Bureau Takes Action Against Payday Lender For Robo-Signing

Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today took its very very first enforcement action against a payday lender by purchasing money America Overseas, Inc. To refund consumers for robo-signing documents with debt collection legal actions. The CFPB additionally unearthed that money America – among the biggest short-term, small-dollar loan providers into the country – violated the Military Lending Act by illegally overcharging servicemembers and their loved ones. […]