A California mortgage lender that the CFPB says improperly accessed student loan borrowers’ credit reports will pay nearly $1.6 million to settle an enforcement lawsuit.
Chou Team Realty LLC, which was doing business under the name Monster Loans, and its owner Thomas Chou and several other corporate and individual defendants on Thursday agreed to settle the Consumer Financial Protection Bureau’s claims for $18 million in consumer redress and a $450,001 civil money penalty.
The CFPB has asked Judge James V. Selna of the U.S. District Court for the Central District of California to lower the redress payments to around $1.1 ...
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