![]() Under the Consumer Financial Protection Act (CFPA), the CFPB has the authority to take enforcement action against institutions violating consumer financial laws. Over the past four years, OneMain kept approximately $10 million in interest charges attributable to add-ons cancelled within its purported “full refund period.” Because of how OneMain precomputed interest on some loans, customers had already been charged significant amounts of interest that the company did not refund. However, OneMain unfairly failed to refund interest charges for about 25,000 borrowers who signed up for add-ons such as roadside assistance benefits, identity theft protection, or entertainment discounts.
0 Comments
Leave a Reply. |