Civil Litigation,
Government
Jan. 23, 2018
CFPB scores tiny penalty against loan collector
The Consumer Financial Protection Bureau suffered a major setback when a federal judge turned down their demand for a massive penalty against CashCall Inc.
LOS ANGELES — The Consumer Financial Protection Bureau suffered a major setback when a federal judge turned down its demand for a massive penalty against a loan collector.
U.S. District Judge John F. Walter in Los Angeles imposed a statutory penalty of $10 million against CashCall Inc. in an order issued Friday. This penalty fell short of the CFPB request for more than $290 million in penalties and restitution, and a permanent inju...
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