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Violation Tracker Individual Record

Company: SettleIt, Inc.
Penalty: $1,396,000
Year: 2021
Date: April 13, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: The Consumer Financial Protection Bureau took action today against an online debt-settlement company for taking advantage of consumers, failing to disclose its relationship to certain creditors, and steering consumers into high-cost loans offered by affiliated lenders. The Bureau and SettleIt reached a settlement that would require SettleIt to return at least $646,000 in fees to consumers, pay a $750,000 civil penalty, and stop settling debts for creditors with which it shares an ownership interest.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.