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CFPB, DOJ sue lender, land developer for ‘bait-and-switch’ lending tactics
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Consumer Protection, Nonbank Financial
Tuesday, January 2, 2024
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In
the agency’s first federal court filing citing Interstate Land Sales Full
Disclosure Act violations, the Consumer Financial Protection Bureau partnered
with the Department of Justice to sue a Texas-based lender and land developer
for direct-to-consumer marketing tactics promoting flood-prone properties
lacking critical infrastructure to tens of thousands of Spanish-speaking
borrowers.
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