The Consumer Financial Protection Bureau Tuesday filed a lawsuit against a debt relief firm for charging illegal upfront fees and deceiving consumers. The suit is notable because just last month the firm, Morgan Drexen, was a party to a lawsuit filed against the CFPB that challenged the regulator’s authority to request certain information.
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Linville, who taught elementary school for 36 years until she retired, complained to the West Virginia state attorney general, which filed a lawsuit against Morgan Drexen. of other debt relief.
The Consumer Financial Protection Bureau filed suit against Walter Ledda and his debt settlement company, Morgan Drexen Inc., for charging illegal upfront fees and deceiving customers. The CFPB.
Consumer Financial Protection Bureau (CFPB) filed its lawsuit in August 2013, against debt-relief services company Morgan Drexen. The CFPB alleges, among other things, that Morgan Drexen deceived consumers into paying unlawful up-front fees for debt relief services by disguising them as fees related to "sham" bankruptcy services.
The firms and attorneys allegedly collaborated with Morgan Drexen, Inc., which shut down in 2015 following the CFPB’s lawsuit against it. The Telemarketing Sales rule generally prohibits debt relief providers from charging a fee until they have actually settled, reduced or changed the terms of at least one of the consumer’s debts.
Howard said he spent $1 million in legal fees defending himself against charges in 2017 that he allegedly took over a debt-relief scam of a former client, the now-bankrupt Morgan Drexen.
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The CFPB won a judgment against Morgan Drexen, a company that. upfront fees for debt-relief services, when, in reality, they typically pay hundreds, if not. But enforcement through lawsuits is only part of what the agency does.. It doesn 't just help the individuals who file the complaints, but the future.
The dispute marks the latest standoff between a law firm and the CFPB, which has targeted firms in recent years over their. that they ran the debt relief operation with Morgan Drexen, which shut.
The Consumer Financial Protection Bureau filed a lawsuit against Morgan Drexen and its president and CEO Walter Ledda for allegedly deceiving customers by charging upfront illegal fees this week.
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