CFPB Announces $2.175 Million Settlement with Company Offering Installment Loans
By EsqSocial Corporation 06/01/21
On December 30, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a lender that provided installment loans to consumers affiliated with the military over the lender’s alleged violations of the Military Lending Act (MLA), Electronic Fund Transfer Act (EFTA), and Consumer Financial Protection Act of 2010 (CFPA). According to the CFPB, the company originates tens of thousands of loans annually, with individual loans normally ranging from...
By: Goodwin