Sub-Prime Lender to Pay $5.5M to Settle FTC Harassment Charges

Irvine, CA – May 30, 2014 – Consumer Portfolio Services, Inc. (CPS), headquartered in Irvine, California, a subprime auto lender, agreed to pay more than $5.5 million to settle Federal Trade Commission charges that the company used illegal tactics to service and collect consumers’ loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts to friends, family, and employers.

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