Debt Settlement Co. Agrees To Pay $1.4M To End CFPB Claims
Emilie Ruscoe, 14 April 2021
Online debt-settlement company SettleIt Inc. has agreed to pay $1.4 million to end U.S. Consumer Financial Protection Bureau claims that the company charged its customers for negotiating settlements with two creditors it was secretly affiliated with and steering the consumers into expensive loans with those companies.
The terms of a proposed judgment and order, filed Tuesday in California federal court, would require SettleIt to set aside about $647,000 to pay back the performance fees the company collected from consumers and pay a proposed $750,000 civil monetary penalty. The company neither admits nor denies the CFPB’s allegations. Continue reading “Article: Debt Settlement Co. Agrees To Pay $1.4M To End CFPB Claims”
