CFPB-PR-240208-1
Date Released: 
February 8, 2024
Headline:
CFPB-PR-240208-1 – CFPB Secures $12 Million From Ringleaders of Foreclosure Relief Scam – Long-running action against four attorneys and their company, Consumer First Legal Group, comes to an end
Excerpt:
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced that it resolved an appeal in a long-running enforcement suit against a foreclosure relief scam operation for $12 million in consumer redress and penalties. Consumer First Legal Group, LLC and four attorneys, Thomas G. Macey, Jeffrey J. Aleman, Jason Searns, and Harold E. Stafford, charged millions of dollars in illegal advance fees to financially distressed homeowners for legal representation the defendants promised but did not provide.
This case was part of a coordinated effort against various foreclosure relief scam operations by the CFPB, Federal Trade Commission (FTC), and 15 states in 2014. The CFPB filed three lawsuits, the FTC filed six lawsuits, and the states took 32 actions.
The CFPB won a judgment against the defendants in 2019. The case has been ongoing given multiple appeals. Today’s settlement brings the case to an end.
Under the resolution announced today, the defendants will pay $10.9 million in consumer redress and a $1.1 million penalty into the CFPB’s victims relief fund. The individual defendants are covered by 8- or 5-year bans from the mortgage assistance industry, under the district court’s original order.
https://www.consumerfinance.gov/about-us/newsroom/cfpb-secures-12-million-from-ringleaders-of-foreclosure-relief-scam/
[Date Accessed: 3/10/2024]
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