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Victims of Think Finance loan repayment scam to get $384 million

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BBB releases report about riskiest scams of 2023


BBB releases report about riskiest scams of 2023

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Consumers allegedly scammed by Think Finance into repaying loans they did not owe are being refunded through distributions from the Consumer Financial Protection Bureau (CFPB).

The federal agency on Tuesday said it allocated more than $384 million to roughly 191,000 consumers who fell victim to Texas-based Think Finance, an online lender. The money was distributed by the CFPB through its victims relief fund, also known as the Civil Penalty Fund. 

“Too often, victims of financial crimes are left without recourse even when the companies that harm them are stopped by law enforcement,” CFPB Director Rohit Chopra said in a statement. “The victims relief fund allows the CFPB to help consumers even when bad actors have squandered their ill-gotten profits.

Payments to consumers harmed by Think Finance’s practices will be sent out beginning on May 14, the agency said. Those who think they are eligible can find more details at the CFPB’s website. They can also contact the settlement administrator, Epiq Systems, with questions by email at info@cfpb-thinkfinance.org or by phone at (888) 557-1865, a toll-free line.

Since its creation in 2010, the CFPB has distributed about $19 billion to more than 195 million defrauded consumers in the form of monetary compensation, principal reductions, canceled debt and other relief, according to the agency. Consumer complaints about financial products or services can be submitted on CFPB’s website or by calling (855) 411-CFPB (2372).



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Southern California residents react to wildfire that destroyed their homes

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Southern California residents react to wildfire that destroyed their homes – CBS News


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A massive wildfire in Southern California has burned across more than 20,000 acres in Ventura County, destroying dozens of homes. CBS News correspondent Jonathan Vigliotti spoke with residents about the heartbreak of losing their homes.

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8 decades after her father’s mysterious death in WWII, she finally received answers

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8 decades after her father’s mysterious death in WWII, she finally received answers – CBS News


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Gerri Eisenhauer’s father, Army Pvt. William Walters, was shipped off to World War II before she was even born. In 1944, her family got back his body and a letter that only stated he had died somewhere in France. Eighty years later, she finally received some answers. Steve Hartman has the story in “On the Road.”

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Who are the contenders for Trump’s next administration?

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Who are the contenders for Trump’s next administration? – CBS News


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On the Friday after Election Day, President-elect Donald Trump and his team are racing to staff the incoming administration. CBS News’ Scott MacFarlane reports on the names being floated for secretary of state, CIA director, secretary of defense, attorney general and treasury secretary.

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