It's been a busy week for the CFPB; since Sept. 21, the agency has taken action against six loan companies and a credit repair firm for deceiving consumers in a variety of ways.
On Monday, the CFPB took administrative action against TitleMax parent company, TMX Finance for luring consumers into expensive loan renewals by presenting them with misleading information. The agency also said the company used unfair debt collection tactics that illegally exposed information about a borrower's debts to employers, friends and relatives.
The Savannah, Ga.-based company is one of the nation's largest auto title lenders; it has more than 1,300 storefronts in 18 states, according to the CFPB.
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