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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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Trump to return to Butler, Pennsylvania, as Obama prepares to campaign for Harris

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Trump to return to Butler, Pennsylvania, as Obama prepares to campaign for Harris – CBS News


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Former President Donald Trump is set to return to the site of the first assassination attempt in Butler, Pennsylvania, on Saturday with an “extremely enhanced” security apparatus. Meanwhile, former President Barack Obama is expected to campaign for Vice President Kamala Harris starting Thursday. CBS News political correspondent Caitlyn Huey-Burns and CBS News chief White House correspondent Nancy Cordes have the latest.

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10/4: CBS News Weekender – CBS News

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10/4: CBS News Weekender – CBS News


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Lana Zak reports on the better-than-expected September jobs report, the latest with Vice President Kamala Harris and former President Donald Trump on the campaign trail, and what new research says about the impact of traveling on the aging process.

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North Carolina family vows to rebuild after Helene destroyed their campground

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North Carolina family vows to rebuild after Helene destroyed their campground – CBS News


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Helene destroyed a family-owned campground in North Carolina, leaving its owners facing a hard choice on how to move forward. Steve Hartman goes “On the Road” for a story on resilience and hope.

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