CFPB Settles with NDG Financial Corp.

The Consumer Financial Protection Bureau (Bureau) today filed a proposed settlement with NDG Financial Corp., E-Care Contact Centers, Ltd., Blizzard Interactive Corp., New World Consolidated Lending Corp., New World Lenders Corp., Payroll Loans First Lenders Corp., New World RRSP Lenders Corp., Northway Financial Corp., Ltd., and Northway Broker, Ltd. Also named are corporate officials Kimberly DeThomas, Jeremy Sabourin, and William Wrixon.  The entities and individuals are payday lenders and corporate officials based in Canada and Malta.

In its amended complaint, the Bureau alleges that the defendants violated the Consumer Financial Protection Act of 2010 by misrepresenting to consumers in states where loans offered by the defendants violated state licensing or usury laws that they were obligated to repay loan amounts when such an obligation did not exist because state law voided the loan.

Defendants also:


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