In the News 04/07/2015

The Consumer Financial Protection Bureau (CFPB) recently announced that they will be taking action against a nationwide debt collection operation and it’s CEO for threatening consumers with criminal prosecution and jail time for writing bounced checks. National Corrective Group, a privately-held corporation based in California, is also charged with misleading consumers to believe that they were required to enroll in an expensive financial education program to avoid the criminal charges.

The CFPB’s proposed order is currently being reviewed by the federal district court. The order would end all illegal activity, impose a civil penalty of $50,000 and require new regulations on consumer disclosure and strong supervision of the bounced check program.

For more information, check out the following press:

http://www.lexology.com/library/detail.aspx?g=13641bb6-9b06-4422-b078-d44104647fb6

http://www.consumerfinance.gov/newsroom/cfpb-takes-action-against-bad-check-debt-collector/

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One thought on “In the News 04/07/2015

  1. Pingback: In the News 04/14/2015: National Corrective Group (Continued) | Atkins & Ogle Law

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