CFPB, In a First, Sues CashCall For Illegal Online Loan Servicing
December 16, 2013
On Monday, as Inside the CFPB was going to press, the CFPB took its first action against an online loan servicer, CashCall Inc., its owner, its subsidiary, and its affiliate, for collecting money the bureau said consumers did not owe. The CFPB alleges that the defendants engaged in unfair, deceptive and abusive practices, including illegally debiting consumer checking accounts for loans that were void. California-based CashCall, its subsidiary, WS Funding LLC, and its affiliate, Delbert Services Corp., a Nevada collection...