CFPB unveils settlement in NDG online payday loans case

0
Law360 (February 1, 2019, 10:26 p.m. EST) – The Consumer Financial Protection Bureau reached a deal with a range of Canadian and Maltese companies accused of running an illegal online payday loan program, unveiling a deal on Friday which does not come with a fine but involves prohibiting companies from making new loans and collecting old ones.

The settlement, filed in a draft judgment stipulated in New York federal court, would resolve the CFPB’s case against British Columbia-based NDG Financial Corp., several business executives and a range of Canadian-based affiliates. and Malta. Together, these defendants sold “unauthorized and usurious payday loans on the Internet …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific articles and topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Share.

About Author

Leave A Reply