Another financial-sector company is fighting to keep its name secret as it challenges the power of the CFPB to bring an enforcement action.
The company—identified only as "John Doe" in Washington federal trial court—offers pension advance products that allow consumers to receive a lump sum payment in exchange for a portion, or all, of their future pension.
The CFPB has warned that such products can "eat into your retirement income." State regulators in New York and California, among other states, have taken actions in recent years against practices in the pension-advance market.
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