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CFPB, State AGs Hit Defunct California Lender over Servicemember Scam

JUL 29, 2014 1:18pm ET

WASHINGTON Federal and state regulators announced a settlement Tuesday with Colfax Capital Corp. and its subsidiary over charges it "lured" 17,000 U.S. servicemembers into expensive loans with hidden charges and withheld information on billing statements.

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