A Los Angeles software provider for credit repair services and its founder will pay a combined $3 million to resolve Consumer Financial Protection Bureau claims that they helped companies charge illegal advance fees.
Credit Repair Cloud agreed to pay a $1 million civil money penalty and its CEO Daniel Rosen will fork over $2 million to bring to a close litigation the CFPB launched in September 2021, the agency and counsel for the defendants said in a Thursday joint filing in the US District Court for the Central District of California.
Judge John F. Walter will have to approve the ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.