The Consumer Financial Protection Bureau (CFPB) recently announced a settlement with a small-dollar lending company for multiple “deceptive” acts that violate the Truth in Lending Act (TILA). The company is being given the opportunity to settle for less than a third of the more than $1.5 million judgment against it.
The order suspends full payment of the judgment subject to Triton’s payment of $500,000 to affected consumers, and providing the company abides by certain terms.
Find out more about the settlement and the company’s violations.