April 25, 2016

The CFPB ordered debt collection law firm Pressler & Pressler, LLP, principal partners Sheldon H. Pressler and Gerard J. Felt, and New Century Financial Services, Inc., a debt buyer, to stop churning out unfair and deceptive debt collection lawsuits based on flimsy or nonexistent evidence.  The orders also require the firm and the named partners to pay $1 million, and New Century to pay $1.5 million to the Bureau’s Civil Penalty Fund.  CFPB