The Consumer Financial Protection Bureau (CFPB) recently settled with numerous foreign-based organizations involved in a payday lending operation for alleged violations of the Consumer Financial Protection Act and the Credit Practices Rule.
Although the CFPB initially sought restitution and disgorgement in the matter, and the court ruled it had sufficient evidence to do so, the final consent order did not call for it.
Find out about some of the key events occurred from the initial complaint filing to the final settlement.