The proposed settlement, which would include a $100,000 fine, would resolve a lawsuit brought by the CFPB against Forster & Garbus in 2019, accusing it of filing tens of thousands of lawsuits without properly documenting the underlying loans. The settlement is pending court approval.
Representatives for Forster & Garbus as well as Citigroup and Discover did not respond to requests for comment. The CFPB’s complaint stated that Forster & Garbus did not admit nor deny the allegations.
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