CFPB Takes Enforcement Action Against Payday Lender

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.

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