| Federal Tipoffs Involving Minnesota Newsletter for Friday August 30, 2024 ( 1 items ) |
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CFPB Orders NewDay USA to Pay $2.25 Million for Illegally Luring Veterans and Military Families into Cash-Out Refinance Loans
WASHINGTON, Aug. 29 -- The Consumer Financial Protection Bureau issued the following news release:
The Consumer Financial Protection Bureau (CFPB) today took action against repeat offender New Day Financial (NewDay USA) for deceiving active duty servicemembers and veterans seeking cash-out refinance loans. The CFPB found that NewDay USA gave misleading and incomplete cost comparisons to borrowers refinancing in North Carolina, Maine, and Minnesota, which made the company's loans appear less exp
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