NDG Financial Corp., Northway Financial Corp., Ltd., Northway Broker, Ltd. Et al.
Enforcement, Payday Loans
In 2015, the CFPB filed a lawsuit against NDG Financial, Northway Financial and Northway Broker for “illegally collecting loan amounts and fees that were void or that consumers had no obligations to repay.” The companies allegedly falsely threatened borrowers with “lawsuits and prison.” The regulators are seeking a penalty and restitution for victimized consumers. The case is open as of February 28, 2017.