The CFPB yesterday announced an enforcement action against payday lender Cash America International Inc. According to the CFPB's press release, Cash America will pay up to $14 million in refunds to consumers for robo-signing court documents in debt collection lawsuits, and will pay a $5 million fine for the robo-sgning and for destroying records in advance of the CFPB’s investigation. The enforcement action is the CFPB's first against a payday lender.
