Marking the agency’s first time declaring a company’s practices “deceptive” since Mick Mulvaney was named acting director, the Consumer Financial Protection Bureau (CFPB) has reached a settlement with a debt collection company for misinforming consumers about debt amounts they owed.
The defendants in the case have the opportunity to settle the matter for much less than the total civil money amount listed in the consent order.
Find out more details about the settlement and what is significant about the matter.