CFPB proposes penalty of $150,000 against Prime Marketing Holdings

By Mark Iandolo | Sep 7, 2017

WASHINGTON (Legal Newsline) — The Consumer Financial Protection Bureau (CFPB) announced Aug. 30 that it has filed a proposed final judgment in federal court that seeks to resolve a credit repair practices lawsuit against Prime Marketing Holdings LLC.

According to the financial board, Prime Marketing Holdings misled consumers about its money back guarantee and charged those consumers with illegal upfront fees. The defendants, incorporated in Delaware with an office in Van Nuys, California, have also operated in such names as ark View Credit, National Credit Advisors, and Credit Experts. The defendants purported charged more than 50,000 consumers roughly $20 million for credit repair services between Oct. 1, 2014 and at least June 30, 2017.

“We are taking action to shut down a company that deceived consumers into paying for credit repair services that did not live up to the company’s promises,” CFPB Director Richard Cordray said. “We remain committed to taking action against companies that mislead consumers into paying illegal fees with false promises.”

The CFPB is proposing Prime Marketing Holdings pay a $150,000 civil money penalty. Additionally, the company would be banned from misleading consumers in the future.

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