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Consumer Financial Protection Bureau and New York Department of Financial Services Sue Pension Advance Companies for Deceiving Consumers About Loan Costs

Companies Hid Loan Interest Rates and Fees and Deceived Consumers About Other Terms of the Deal

WASHINGTON, D.C. —(ENEWSPF)–August 20, 2015.  Today the Consumer Financial Protection Bureau (CFPB) and the New York Department of Financial Services (NYDFS) filed a lawsuit in federal court against two companies, Pension Funding, LLC and Pension Income, LLC, and three of the companies’ individual managers for deceiving consumers about the costs and risks of their pension advance loans. The CFPB…

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