CFPB Settles Over Calif. Debt Collector's 'Litigation Notices'

Law360 (April 6, 2021, 7:11 PM EDT) -- The Consumer Financial Protection Bureau has settled claims against a California debt collection agency and its owner for allegedly making false legal threats to consumers, issuing a consent order on Tuesday that includes an $860,000 suspended judgment for redress. It is the agency's first such settlement of the Biden era.

The consent order against the Anaheim-based Yorba Capital Management LLC and its sole owner, Daniel Portilla Jr. of Santa Ana, California, also permanently bans them from the debt collection industry and requires them to pay a $2,200 civil penalty, resolving CFPB findings that they violated federal law through the use of...

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