CFPB Probes Lender TMX Over Potential Settlement Breach

Law360 (May 10, 2021, 7:11 PM EDT) -- The Consumer Financial Protection Bureau is probing whether TMX Finance LLC violated the terms of a $9 million settlement, shutting down its claims that a pending administrative request is too vague and should be kept confidential, according to an order made public Monday.

In an April 26 order, the CFPB shut down TMX's arguments that a February civil investigative demand, or CID, into the company's lending practices is too vague, overly burdensome, and failed to provide "fair notice," noting that it could seek additional monetary relief if the company is found to have breached the 2016 settlement. 

"TMX's arguments are not...

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