December 16, 2016
The CFPB took action against Moneytree, Inc.
, a financial services company that offers payday loans and check-cashing services, for misleading consumers with deceptive online advertisements and collections letters, and making unauthorized electronic transfers from consumers’ bank accounts. The CFPB has ordered the company to cease its illegal conduct, provide $255,000 in refunds to consumers, and pay a civil penalty of $250,000. CFPB