ARTICLE · 22 SEPTEMBER 2015

CFPB Sues Offshore Payday Lender

Venable LLP

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On August 4, 2015, the CFPB announced that it filed a lawsuit in federal district court against NDG Enterprise (NDG), a complex web of commonly controlled companies, for collecting money consumers did not owe.

United StatesFinance and Banking

Allyson B. Baker

Peter Frechette

On August 4, 2015, the CFPB announced that it filed a lawsuit in federal district court against NDG Enterprise (NDG), a complex web of commonly controlled companies, for collecting money consumers did not owe. The complaint alleges that NDG violated the Dodd-Frank Wall Street Reform and Consumer Protection Act's prohibition on unfair, deceptive, and abusive acts and practices.

NDG originates and collects payday loans over the Internet to consumers in all 50 states. The complaint alleges that NDG originated, serviced, and collected payday loans that were void in whole or in part under state law in seventeen states under state licensing regulations or usury caps. NDG's unfair, deceptive, and abusive practices were numerous, and included, according to the complaint:

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