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Volume 25 - Number 17

August 18, 2014

CFPB Tags Finance Company For Alleged Scam of Military Personnel

The CFPB late last week said it shut down what it called a service member fee scam allegedly run by USA Discounters, Ltd., a consumer finance company that operates a chain of retail stores, most of which are near military bases, and offers in-store and online financing for purchases. USA Discounters tricked thousands of American military personnel into paying fees for legal protections they already had under the Servicemembers Civil Relief Act, and for certain services that the company failed to provide, the bureau alleged. The CFPB said it obtained more than $350,000 in refunds for military personnel harmed by the practices in question, and the company will pay an additional $50,000 civil penalty. The company cannot deduct the penalty ...

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