CFPB sues over illegal debt-relief scheme that took $67 million from 21,000 consumers

The Consumer Financial Protection Bureau on Monday obtained a preliminary injunction against World Law Group and its senior leaders for running a debt-relief scheme that the CFPB alleged charged consumers exorbitant, illegal upfront fees.

The CFPB alleges the debt-relief scheme falsely promised consumers a team of attorneys to help negotiate debt settlements with creditors, failed to provide legal representation, and rarely settled consumers’ debts. World Law is alleged to have taken $67 million from at least 21,000 consumers before providing any debt-relief services. The preliminary injunction order halts World Law’s operations and freezes the defendants’ assets while the case is pending.

Details and a link to the order are available from the CFPB, here.

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