CFPB files suit against Morgan Drexen over debt-relief services

 · Yesterday, the CFPB filed a lawsuit against Morgan Drexen, the company that on July 22 sued the CFPB claiming that the Bureau’s structure violates the Constitution’s separation of powers. Although Morgan Drexen sued the CFPB in federal district court in Washington, D.C., the CFPB filed its complaint in federal district court for the Central District of California where, according to the.

At the request of the Consumer Financial Protection Bureau, a federal district court entered a final judgment this week against debt relief company Morgan Drexen, Inc., resolving a lawsuit filed.

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Law360, New York (September 22, 2017, 2:42 PM EDT) — Two lawyers who say their livelihoods were destroyed by the Consumer Financial Protection Bureau’s crackdown on debt-relief firm Morgan Drexen..

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A California federal district court has entered a final judgment in favor of the CFPB in its enforcement action filed in August 2013 against Morgan Drexen, Inc. and its CEO. The lawsuit alleged that Morgan Drexen charged advance fees for debt relief services in violation of the Telemarketing Sales Rule (TSR) and engaged in deceptive.

We don’t know about you, but we’ve been following the contentious litigation between the Consumer Financial Protection Bureau (CFPB) and debt-relief services company Morgan Drexen pretty closely. The.

Yesterday I mentioned the Consumer Financial Protection Bureau filed suit against Morgan Drexen. As I mentioned, I said I would take more time today and wander through the complaint filed and share more about the allegations. If there was no doubt in the mind of any debt relief industry executive if the CFPB was set [.]

The CFPB sued Morgan Drexen in 2013 over its debt settlement. companies from charging fees for debt relief services until the debt has been settled or its terms have been altered. The 2013 lawsuit.

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Company Made Misleading Claims about its Debt-Relief Services to Consumers. WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court against a Nevada corporation, Morgan Drexen, Inc., and its president and chief executive officer, Walter Ledda, for charging illegal upfront fees and deceiving consumers.

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As the bureau prepared to file the instant suit, Morgan Drexen in July 2013 preemptively sued the CFPB in D.C. federal court, challenging the agency’s constitutional right to exist. That bid failed .