Sign up for my newsletter and get 10 money tips each week
Consumer Reports recommendations on specific products to be easily available to consumers before they buy autos, other products in new program

Debt collector and owner fined and banned from business for threatening consumers with legal action

Broke-Man Man Pulls Out Empty Pockets 4765739_640The Consumer Financial Protection Bureau issued a consent order Tuesday against a debt collector and its owner for harassing thousands of consumers, falsely threatening them with legal action.

The CFPB found that Yorba Capital Management and its former owner, Daniel Portilla Jr., violated federal law. The order bans Yorba and Portilla from the debt collection business, and orders restitution and penalties.

“Debt collectors often run afoul of consumer law when they coerce consumers to pay them by exaggerating the consequences of not paying,” said CFPB Acting Director David Uejio.

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)