WASHINGTON (Legal Newsline) — The Consumer Financial
Protection Bureau has announced that it took action against Prime
Marketing Holdings LLC a credit repair company, suing for allegations the
company charged consumers illegal advance fees.
According to the CFPB, the defendant violated the Dodd-Frank
Wall Street Reform and Consumer Financial Protection Act, as well as the
Telemarketing Sales Rule. Specific allegations include that Prime Marketing
Holdings charged illegal advance fees, misled consumers about the cost and
benefits of its services and failed to disclose limits on its “money-back”
“We are taking action against Prime Marketing Holdings for
luring consumers with misleading claims about its ability to repair credit
files and then charging illegal fees,” CFPB Director Richard Cordray said.
are also alerting consumers to watch out for problematic credit repair
practices. All consumers have a right to a free annual credit report and to
dispute inaccurate information. This is a key step to building and maintaining
The CFPB seeks a ban on Prime Marketing Holding’s
alleged harmful conduct. It also seeks relief for consumers, including refunds
of feeds paid to the defendant.