The CFPB “filed a consent order against Moneytree for ‘misleading’ consumers.” The complaint alleged that Moneytree used “‘deceptive’ online ads” and that they extracted funds from “consumers’ bank accounts without their consent hundreds of times.” The complaint further alleged that Moneytree falsely claimed they could repossess borrowers’ cars, despite the fact the cars were not securing the loans held by Moneytree. Moneytree was “ordered ‘to cease its illegal conduct,’ provide $255,000 in customer refunds and pay a civil penalty of $250,000.”

• On December 16, 2016, the CFPB “filed a consent order against Moneytree for ‘misleading’ consumers with ‘deceptive’ online ads and collection letters and for transferring funds from consumers’ bank accounts without their consent hundreds of times.” [Eli Segall, “US financial regulators order $500k fine against payday lender Moneytree”, Las Vegas Review-Journal, 12/16/16]

• The complaint alleged that Moneytree mislead consumers about service fees, that they “‘deceptively’ told borrowers that their cars could be repossessed” even though Moneytree “‘had no right or ability to repossess them,’,” and that “Moneytree withdrew money from customers’ bank accounts without their authorization ‘in over 700 instances.'” [Eli Segall, “US financial regulators order $500k fine against payday lender Moneytree”, Las Vegas Review-Journal, 12/16/16]

• The CFPB “ordered [Moneytree] ‘to cease its illegal conduct,’ provide $255,000 in customer refunds and pay a civil penalty of $250,000.” [Eli Segall, “US financial regulators order $500k fine against payday lender Moneytree”, Las Vegas Review-Journal, 12/16/16]