ARTICLE · 15 OCTOBER 2015

CFPB Shuts Down Debt Relief Services Company

Venable LLP

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On September 15, the CFPB filed suit against the World Law Group, alleging violations of the Consumer Financial Protection Act (CFPA) and the Telemarketing Sales Rule (TSR).

United StatesFinance and Banking

Allyson B. Baker

Peter Frechette

On September 15, the CFPB filed suit against the World Law Group, alleging violations of the Consumer Financial Protection Act (CFPA) and the Telemarketing Sales Rule (TSR). On September 2 and 14, the CFPB was granted temporary restraining orders against the World Law Group companies and certain personnel, halting the World Law Group's business operations and freezing its assets, as well as the assets of the named individuals. The restraining orders also appoint a receiver for the business activities of the World Law Group.

The CFPB's complaint, filed in Florida district court, alleges that the World Law Group and several of its officers and directors defrauded customers by advertising services that were never provided.

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