Consumer Bureau Action Tracker

CFPB v. Federal Debt Assistance Association, LLC, Financial Document Assistance Administration, Inc., Clear Solutions, Inc., Robert Pantoulis, David Piccione, and Vincent Piccione


State

Nationwide

target

Federal Debt Assistance Association, LLC, Financial Document Assistance Administration, Inc., Clear Solutions, Inc., Robert Pantoulis, David Piccione, and Vincent Piccione

Topics

Enforcement, Debt Collection

In October 2017, the CFPB sued Federal Debt Assistance Association for “falsely presenting” itself as being affiliated with the federal government. The CFPB alleged that the company’s “so-called ‘debt validation’ programs violated the law by falsely promising to eliminate consumers’ debts and improve their credit scores in exchange for thousands of dollars in advance fees.” This case is still ongoing. 

  • “Last week The Consumer Financial Protection Bureau (CFPB) filed suit in federal court against two companies operating under the name ‘FDAA,’ a service provider, and their owners for falsely presenting FDAA as being affiliated with the federal government. The CFPB also alleges that the FDAA’s so-called ‘debt validation’ programs violated the law by falsely promising to eliminate consumers’ debts and improve their credit scores in exchange for thousands of dollars in advance fees. The CFPB’s lawsuit seeks to end these deceptive practices, obtain redress for harmed consumers, and impose civil money penalties.” [Stephanie Edelman, “CFPB Takes Action Against ‘Document Preparation’ Company as Debt Industry Struggles to Deal With Influx of Mass Validation Requests,insideARM, 10/16/17]

Status

Active


1:17-cv-02997-GLR 10/12/2017 10/12/2017

CFPB Sues Debt-Relief Companies Illegally Posing As Federal Government
https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-debt-relief-companies-illegally-posing-federal-government/

  • Consumer Financial Protection Bureau (CFPB)
  • Federal district court case
  • U.S. District Court for the District of Maryland
  • Nonbank
  • Pending

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