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Violation Tracker Individual Record

Company: My Loan Doctor, LLC d/b/a Loan Doctor
Penalty: $19,391,530
Year: 2022
Date: December 1, 2022
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: The Consumer Financial Protection Bureau took action against Loan Doctor to resolve the CFPB's claims that the company and its founder broke the law by deceiving consumers into thinking they were depositing funds into a guaranteed return savings product within a commercial bank. The company agreed to refund about $19 million to depositors and pay a fine of $391,530.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.