CFPB orders Colo. BHPH dealer to pay $700K in restitution
WASHINGTON, D.C. — For the second time in two months, the Consumer Financial Protection Bureau took out an enforcement action in the buy-here, pay-here industry. On Thursday, the enforcement came against Herbies Auto Sales, an operator in Greeley, Colo., for what the bureau deemed to be abusive financing schemes, hiding auto finance charges and misleading consumers. The CFPB said Herbies will pay $700,000 in restitution to harmed consumers, with a suspended civil penalty of … Read more
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