The CFPB and FTC continue to make clear that their number one mission is protecting consumers, including from entities that claim to offer consumers assistance. On May 17, 2021, both CFPB and FTC issued press releases announcing they are seeking fines and penalties against debt settlement companies for unlawfully charging fees to consumers.
The CFPB’s action against DMB Financial
The CFPB's May 17, 2021 press release announced that the CFPB requested a federal district court grant a final judgment and order, the terms of which have been agreed to by DMB Financial, LLC (DMB). DMB is a Massachusetts-based debt settlement company that offers and provides services to settle or renegotiate unsecured debt on behalf of consumers in 24 states.
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