CFPB Sues Software Biz For Helping Illegal Credit Repair Cos.

By Katryna Perera (September 21, 2021, 6:48 PM EDT) -- The Consumer Financial Protection Bureau has filed a lawsuit in California federal court against software company Credit Repair Cloud for allegedly assisting illegal credit repair businesses.

The CFPB on Monday alleged in its complaint that the California-based Credit Repair Cloud and its owner, Daniel Rosen, have violated the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010 by "providing substantial assistance or support to credit-repair businesses that use telemarketing and charge unlawful advance fees to consumers."

Credit Repair Cloud, which Rosen founded in 2013, sells software and other tools to help people start and operate credit repair businesses....

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