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Home » CFPB Reduces Fines on Debt Collector for Financial Condition
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CFPB Reduces Fines on Debt Collector for Financial Condition

July 23, 2018
The CFPB recently fined Kansas-based National Credit Adjusters and its former chief executive $800,000 for illegal debt collection practices. The bureau originally ordered a $6 million civil money penalty but suspended most of it based on the financial condition of NCA and its former CEO. The CFPB said in a consent order that NCA and its former CEO, Bradley Hochstein, purchased consumer debt and used a network of debt collection companies that frequently ...
News Inside the CFPB Enforcement Regulation Non-Mortgage Regulation Payday Lending
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