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Loan Lender Sued for 'Trapping' Borrowers

Heights Finance was charged over a loan-churning scheme that aggressively pushed borrowers to refinance. The government’s consumer watchdog group is suing high-cost installment lender Heights Finance Holding and its subsidiaries for illegal loan-churning practices that collected hundreds of millions of dollars in loan costs and fees from struggling borrowers.In a complaint filed in a South Carolina district court, the Consumer Financial Protection Bureau (CFPB) alleges that Heights Finance ident ....

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CFPB Targets Heights Finance for Alleged Illegal Loan Churning

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Heights Finance Holding, formerly known as Southern Management, and several of its… ....

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