Patrick Lunsford

The customer Financial Protection Bureau (CFPB) today took enforcement action against ACE money Express, among the payday lenders that are largest in the us, for making use of unlawful financial obligation collection techniques – including harassment and false threats of legal actions or unlawful prosecution. ACE will offer $5 million in refunds and spend a $5 million penalty of these violations.

“ACE used false threats, intimidation, and harassing phone phone phone phone calls to bully payday borrowers right into a period of financial obligation,” said CFPB Director Richard Cordray. “This tradition of coercion drained millions of bucks from cash-strapped customers that has few choices to react. Continua a leggere