And Conservatives have heavily privatized the Military, no bid government private, war, contractor contracts, while still seeking to completely privatize the Veterans' Administration for Corporate profits and thus Congress can build bigger agency budgets, i.e. taxes on those flag waving poser patriots already not sacrificing along with added fee's etc., to increase those bottom line profits and not for the Care and rest the VA is charged with and are the people served responsibility!!
WASHINGTON, July 29, 2014 – The Consumer Financial Protection Bureau and 13 state attorneys general obtained about $92 million in debt relief from Colfax Capital Corp. and Culver Capital LLC, also collectively known as “Rome Finance,” for about 17,000 U.S. service members and other consumers harmed by the company’s predatory lending scheme.
“No one who serves our country in uniform -- especially during a time of war -- should ever fall victim to predatory financial practices,” Defense Secretary Chuck Hagel said in a statement, “and today's announcement is an important step in righting this wrong.”
Rome Finance lured consumers with the promise of no money down and instant financing, officials said, and then masked expensive finance charges by artificially inflating the disclosed price of the consumer goods being sold.
The company also withheld information on billing statements and illegally collected on loans that were void. Rome Finance and two of its owners are permanently banned from consumer lending.
“Rome Finance’s business model was built on fleecing service members,” said CFPB Director Richard Cordray. “Rome Finance lured service members in with the promise of instant financing on expensive electronics, then masked the finance charges with inflated prices in marketing materials and later withheld key information on monthly bills. Today, their long run of picking the pockets of our military has come to an ignominious end.” read more>>>
No comments:
Post a Comment