DOJ, CFPB Sue Colony Ridge for Bait-and-Switch, Predatory Lending, More
DOJ, CFPB Sue Colony Ridge for Bait-and-Switch, Predatory Lending, More
Source: Reduce Flooding Blog - Bob Rehak
Date: 12/20/2023 5:55pm
Article Summary:
DOJ and CFPB File Lawsuit Against Colony Ridge for Bait-and-Switch, Predatory Lending, and More
The U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) have filed a lawsuit against Colony Ridge, a Liberty County developer, and its affiliated companies, alleging bait-and-switch tactics, predatory lending, and other violations. The government claims that Colony Ridge specifically targeted Hispanic consumers with deceptive loan products and operated an illegal land sales scheme, leading to foreclosure for many borrowers. The lawsuit seeks injunctions, redress for consumers, damages, and civil money penalties.
Read article here »
Date: 12/20/2023 5:55pm
Article Summary:
DOJ and CFPB File Lawsuit Against Colony Ridge for Bait-and-Switch, Predatory Lending, and More
The U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) have filed a lawsuit against Colony Ridge, a Liberty County developer, and its affiliated companies, alleging bait-and-switch tactics, predatory lending, and other violations. The government claims that Colony Ridge specifically targeted Hispanic consumers with deceptive loan products and operated an illegal land sales scheme, leading to foreclosure for many borrowers. The lawsuit seeks injunctions, redress for consumers, damages, and civil money penalties.
Read article here »