Sunday , June 13 2021

According to the predator creditor for eight years veterans' pensions are deceived, so Trump's CFPB fined him for $ 1 / Boing Boing

Mark Corbett has established himself with the Consumer Protection Bureau, founded by Elizabeth Warren, and then expelled from the trusted, terrible man, Mick Mulvani, now the head of the White House, for complaints of an illegal lending operation, has pulled veterans from his pensions for a decade.

He is fined $ 1.

Corbett was an agent of websites that offered to trade veteran's pensions and invalidity benefits for cash advances; veterans will redirect their direct deposits to their bank accounts and receive a lump sum in return. This is illegal. Moreover, companies insisted that they did not respect the legal duty of creditors to inform borrowers of effective interest rates because it is not a loan, "you sell a product for a certain price." This is also illegal.

Not only that, but the companies often wedged the veterans, did not pay or pay them in time, and still kept their pensions.

Corbett says he can not afford to pay a fine, so the CFPB has reduced his punishment to $ 1.

In a bleak, lively outing, the CFPB left in all the familiar languages ​​included with bigger fines. So the order for consent stipulates that $ 1 dollars must be paid within 10 days of the date of entry into force and then distributed to the Civil Penalty Fund to compensate the victims of financial crimes. Mark Corbett is forbidden to take a small tax to pay this 100 cents penalty, and "in order to keep the deterrent effect of the civil money punishment," he can not use this cash as compensation for future federal fines. And if Mark Corbett does not fulfill his obligation for this four-month period, interest will accrue. The CFPB even wants Mark Corbett's taxpayer identification number so they can track him if he can not climb the 10 holes he owes. The Bureau reserves the right to send Mark Corbett collections for the dollar and to report on the arrears of credit bureaus.

Trump CFPB pays a person to $ 1 to cheat veterans, order not to do it again [David Dayen/The Intercept]

(Image: JMSuarez, CC-BY)

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Cory Doctorow

I write books. My latest are: A YA graphic novel called In Real Life (with Jen Wang); a scientific book on the Arts and the Internet called "Information Does Not Want to Be Free": Laws on the Internet Century (introduced by Neil Gayman and Amanda Palmer) and science fiction novel "Fatherland" (sequel to the little brother), I speak everywhere and I tweet and I fall.


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