CFPB Shuts Down Illegal Credit Repair Company

Today, the CFPB announced it was shutting down a credit repair company that had charged 50,000 consumers over $20 million in violation of federal law. The CFPB charged Prime Marketing Holdings, LLC, Van Nuys, California, with imposing illegal advance fees and misleading consumers about the cost and effectiveness of its services and the nature of its money-back guarantee. The company operated under various names including Park View Credit, National Credit Advisors, and Credit Experts. The CFPB said the company had violated federal laws concerning credit repair: Charged illegal advance fees: Federal law bars companies from collecting advance fees for credit repair services....

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