CFPB Sues Curo Group Subsidiary for Illegally Churning Consumer Loans
TL;DR
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Heights Finance Holding Company, a high-cost installment lender, and its subsidiaries for engaging in illegal loan-churning practices that resulted in hundreds of millions of dollars in loan costs and fees. The CFPB alleges that the company targeted struggling borrowers and aggressively pushed them to refinance, trapping them in a cycle of debt. The lawsuit seeks to end these practices, provide redress to affected consumers, and impose civil penalties.
Topics:businessfinance#cfpb#consumer-protection#finance#heights-finance-holding-company#loan-churning#predatory-lending
- CFPB Sues Installment Lending Conglomerate for Illegally Churning Loans to Harvest Hundreds of Millions in Loan Costs and Fees Consumer Financial Protection Bureau
- Curo Group subsidiary sued by U.S. regulator for 'churning' consumer loans AOL
- CURO Unit Pushes Costly Loan-Refinancing Scheme, CFPB Suit Says Bloomberg Law
- Curo Group subsidiary sued by U.S. regulator for 'churning' consumer loans Reuters
- Curo Group subsidiary sued by US regulator for 'churning' consumer loans CNA
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