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Financial Services Law Insights and Observations

CFPB and New York Attorney General File Lawsuit Against Network of Collections Companies

Courts Consumer Finance CFPB State Attorney General Debt Collection

Courts

On November 2, the CFPB, in partnership with the New York Attorney General, filed a lawsuit in a federal district court against the leaders of a debt collection operation based out of Buffalo. The lawsuit alleges that defendants operate a network of companies that harass and/or deceive consumers into paying inflated debts or amounts they may not owe. The Bureau is seeking to shut down the operation and to obtain compensation for victims and a civil penalty against the companies and partners.

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