LOS ANGELES (Legal Newsline) – The U.S. agency that regulates the offering and providing of consumer-financial products and services is suing a consumer information aggregator and two of its chief officers over claims they didn't properly vet lead purchasers.
The Consumer Financial Protection Bureau filed a lawsuit Dec. 17 in the Western Division of the Central District of California against D and D Marketing, doing business as T3Leads, Grigor Demirchyan and Marina Demirchyan, alleging violations of the Consumer Financial Protection Act.
According to the suit, T3Leads purchases consumer information (leads) from lead generators that market payday and installment loans, then sells the leads to lenders and other lead purchasers.
However, the suit states, T3 does not vet or monitor the lead purchasers in its network to make sure they comply with applicable laws. Some of these lead purchasers and generators misrepresented themselves to consumers.
As a result, T3's consumers have risked having their information purchased by illegal actors, the suit claims.
Consumer Financial Protection Bureau seeks injunctive relief, damages, monetary relief, disgorgement, redress, penalties, and costs and fees of the suit. The plaintiff is represented by attorneys Anthony Alexis, Jeffrey Paul Ehrlich, John C. Wells, Leanne E. Hartmann, Kara K. Miller and Meghan Sherman Carter of the Consumer Financial Protection Bureau in Washington, D.C.
Western Division of the Central District of California Case number 2:15-CV-09692-PSG-E