The Consumer Financial Protection Bureau (CFPB) announced a proposed settlement with a mortgage lender and related companies which work in the debt-relief industry, providing partial redress for harmed consumers and limited civil-money penalties.
The settlement would require $200,000 in consumer redress and $450,001 in civil money penalties – despite the fact that the CFPB identified $18 million in consumer redress.
Read on for more details of the settlement.