Bureau Brings Action Against Debt-Settlement Payment Processor
October 7, 2013
Last week, the CFPB brought an enforcement action against Meracord LLC, a leading debt-settlement payment processor, and CEO/owner Linda Remsberg for allegedly helping others to collect millions of dollars in illegal upfront fees from consumers. The CFPB accused Meracord and Remsberg of violating the Telemarketing Sales Rule by helping debt-settlement companies charge consumers upfront fees. The rule prohibits debt-settlement companies from charging consumers such fees before settling any of their debts. It also protects consumers from...