CFPB May Fulfill $ 50 Million Order Against Online Lender, CEO

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Law360 (July 30, 2021, 5:31 p.m. EDT) – A Kansas federal judge on Friday accepted the Consumer Financial Protection Bureau’s offer to enforce an administrative order for more than $ 50 million in restitution and fines against a payday lender Online and its CEO as they fight order at the Tenth Circuit.

U.S. District Judge John W. Lungstrum ordered Integrity Advance LLC and James Carnes to stop holding and complying with the CFPB’s January order, which required them to pay a restitution of $ 38.5 million and penalties of $ 12.5 million in an enforcement action dating back to 2015.

Carnes had argued that Judge Lungstrum should not …

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